Interesting article about Whole Foods CEO John Mackey. Whole Foods got its start here in Austin and needless to say its become a huge business. I love the example that is being set…Maybe in the future we shall see more CEO do the same?
Of course the cool factor in all this is the fact that I will now be making more money then John Mackey next year. Ya!
“I no longer want to work for money.” - John Mackey - Whole Foods Markets
The second part of today’s announcement has to do with my own compensation…. 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.
HT: Mark Waltz
