Whole Foods CEO John Mackey's Letter to Employees
June 16 2017 - 07:01PM
Dow Jones News
Dear Team Members,
Today marks the beginning of an incredible new chapter in Whole
Foods Market's history. In my nearly 39 years as co-founder and
CEO, I could have never dreamed of this happening, but I am excited
to announce that Whole Foods Market has entered into an agreement
to merge with Amazon at a terrific value for our shareholders.
This partnership presents an incredible opportunity to take
Whole Foods Market's mission and purpose to new levels and best
positions our company and our Team Members for future success.
This year, Amazon earned the number one spot on "The World's
Most Innovative Company" list by Fast Company. The rapid expansion
of Amazon Prime plus the company's bold bets in the physical
retailing world represent a constant cycle of customer-centric
improvements and innovation.
Before natural and organic food became popularized and quality
standards didn't exist, Whole Foods Market served as the visionary
and established those standards. Amazon has played that same role
in digital commerce by developing services that have revolutionized
convenience and delivery for consumers.
We believe this partnership is going to create significant value
for all of our stakeholders. This will enable us to be even more
customer-centric and explore new ways to improve the shopping
experience. Our Team Members will continue to see many
opportunities for learning and growth. Most of our suppliers can
expect to see increased business with us over time. Our investors
are receiving a price that is 41 percent higher than our closing
stock price on March 31. Whole Foods Market's deep commitment to
all of our communities is going to remain as strong as ever, and
our three Foundations can expect to continue to create value for
their constituencies.
While the transaction must go through regulatory and shareholder
approvals and other customary closing conditions, we currently
anticipate closing in the second half of calendar 2017.
We recognize this is very big news and may cause some
uncertainty. On behalf of the entire leadership team, I want to
assure you that Whole Foods Market's culture, mission and purpose
are deeply valued by Amazon and the quality standards that we have
pioneered over the past four decades will not be compromised.
The Team Member Q&A provides additional information, but
many details are still being finalized. We will share updates as
soon as information is available to be as transparent as possible
during this process. I will continue to serve as CEO, joining
Amazon's worldwide consumer organization, and our leadership
network will remain the same.
As you know, we are in a metamorphosis phase. While everyone
processes change differently, this is an exciting new step to
fulfill our higher purpose. Together, we have built an amazing
company and have positioned ourselves to deliver outstanding value
for Whole Foods Market shareholders -- which includes many of
you.
As a fellow Team Member, I believe the possibilities to extend
Whole Foods Market's mission are virtually limitless, and I have
never been more energized about what the future holds for all of
us.
Much love,
John Mackey
Co-Founder and CEO
(END) Dow Jones Newswires
June 16, 2017 18:46 ET (22:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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