John Mackey Letter to Whole Foods Team Members
November, 2006To All Team Members,
The tremendous success of Whole foods has provided me with far more money than I ever dreamed I would have, and far more than is necessary for either my financial security or my personal happiness. I continue to work for Whole Foods not because of the money I can make, but because of the pleasure I get from leading such a great company, and the ongoing passion I have to help make the world a better place, which Whole Foods is continuing to do.
I am now 53 years old and I have reached a place in my life where I no longer want to work for money, but simply for the joy of the work itself and to better answer the call to service that I feel so clearly in my own heart.
Beginning January 1, 2007, my salary will be reduced to $1 per year and I will no longer take any other cash compensation at all. I will continue to receive the same benefits that all other team members receive, including the food discount card and health insurance. The intention of the Board of Directors is for Whole Foods to donate all of the future stock options I would be eligible to receive to our two company foundations: the Whole Planet Foundation and the Animal Compassion Foundation.
One other important item to communicate to you is, in light of my decision to forego any future additional cash compensation, our Board of Directors has decided that Whole Foods Market will contribute $100,000 annually to a new Global Team Member Emergency Fund. This money will be distributed to team members throughout the Company based on need when disasters occur (such as Hurricane Katrina last year).
With much love,