John Mackey, my hero
While it has become necessary to raise the salary cap at Whole Foods to help ensure the retention of our key leadership, this is not true in my case. 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 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 on 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 Market to donate all the future stock options I would be eligible to receive to our two company foundations — The Whole Planet Foundation and The Animal Compassion Foundation. In case there is some technical, tax, or legal reason why these stock options cannot be given to our two foundations, then I will retain future option grants and will pledge to donate 100% of the gain from those options to the foundations. This donation of future options received doesn't apply to the stock options already issued to me prior to January 1, 2007.
If every CEO of a major corporation in the United States thought the same way and acted as Mr. Mackey has done we would not be in the mess that we currently are in. Most talk the talk while the very few walk the walk. Keep on walking Mr. Mackey!
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