Whole Foods Decides One Head Is Better Than Two

Whole Foods Market co-chief executive officer Walter Robb is retiring on Dec. 31 and will not be replaced, leaving his co-ceo John Mackey as sole head of the company."I think the board has decided … that moving to a more streamlined structure is the right thing at this juncture to lead the company forward to the next level," Robb said during the retailer's Nov. 2 earnings call to investors.Robb has served as co-ceo for the past six years. He started at Whole Foods in 1991 and during his tenure saw the retailer expand from 12 to 464 stores.“[Robb's] incredible passion for retail and sense of the customer makes him the most extraordinary retailer I’ve had the privilege to work with," Mackey said in a media release. "During his 25 years of leadership, Robb has been an advocate for the Whole Foods Market culture and a champion for our team members. His genuine love for our mission and our team members truly reflects what it means to be a conscious leader.”Executive vice president, chief financial officer Glenda Flanagan also is retiring after 29 years at the company. In the same earnings call, Flanagan said that she would assist with the search for her replacement, which will likely begin in January. She plans to depart by the end of the 2017 fiscal year.The personnel changes come as Whole Foods continues to struggle with increased competition in the organic and natural space. The alternative grocer experienced a 2.5% decline in comparable store sales in fiscal 2016 (ended on Sept. 25). The retailer launched a new 365 by Whole Foods format meant to appeal to shoppers who are more focused on price and convenience and is doubling down on the investment, opening three 365 by Whole Foods stores in 2016 and currently developing another 19, including its first in Virginia.

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