'Damage caused by WSJ Op-Ed shows Mackey is a 'Liability'
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Editor's Note: Whole Foods' stock is continuing a good recovery since its precipitous drop last November to below $10. It is currently trading at close to $30, and apparently is not being affected by the call for a boycott.
"Mr. Mackey attempted to capitalize on the brand reputation of Whole Foods to champion his personal political views, but has instead deeply offended a key segment of Whole Foods consumer base," said CtW Investment Group Executive Director Bill Patterson. "This is not the first time Mr. Mackey's unsanctioned communications have damaged Whole Foods' image with consumers and investors. At a time when shareholders are looking for Whole Foods' management to focus on improving operations in an uncertain economy, we can not afford the risk to our Company's brand reputation caused by Mr. Mackey's indiscretion. He has become a liability and the board should begin the process of identifying a suitable replacement."