Whole Foods Market Eliminates Co-CEO Structure; Declares Increased Dividend

(RTTNews) - The Board of Whole Foods Market (WFM) announced a transitioning from co-Chief Executive Officers to a sole Chief Executive Officer, with John Mackey to serve in that capacity. Walter Robb will remain on the Board. He will officially transition his co-CEO responsibilities on December 31, 2016, and will continue to be a senior advisor to the company.

Whole Foods Market also announced that, Executive Vice President and CFO, Glenda Flanagan, will retire from the role after 29 years at the end of the 2017 fiscal year. She will continue to serve the company in a senior advisor capacity. The company announced that Mary Ellen Coe, Vice President of Sales and Product Operations for Google, has joined the Whole Foods Market Board.

The Board of Whole Foods Market declared an increase in the company's quarterly dividend to $0.14 per share from $0.135 per share, representing an annual return to shareholders of approximately $179 million. The next dividend is payable on January 24, 2017 to shareholders of record as of January 13, 2017.