Tremendous Success

“The tremendous success of Whole Foods Market has provided me with far more money than I ever dreamed I'd have and far more than is necessary for either my financial security or personal happiness... 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 on January 1, 2007, my salary will be reduced to $1, and I will no longer take any other cash compensation... The intention of the board of directors is for Whole Foods Market to donate all of the future stock options I would be eligible to receive to our two company foundations.

“One other important item to communicate to you is, in light of my decision to forego any future [pay], 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... The first $100,000 will be deposited on January 1, 2007, and requests will be considered after that date.

“With much love,

John Mackey”

(John Mackey, CEO of Whole Foods Markets, in “Final Word,” Fast Company. Boston: Feb 2007., Iss. 112; pg. 112)