Whole Foods has recently reshaped its board of directors in an effort to respond to criticism that it was behind the curve on modifying anticipated growth for the company. Five directors are stepping down immediately, to be replaced by new directors that bring a wide range of experience from retail companies such as Panera Bread, Foot Locker, and others. This action, however, is not seen as the complete panacea for the difficulties that the company faces. "Our competitors are not standing still," related John Mackey, Chief Executive and Co-Founder of Whole Foods. This, which appears to be a new revelation, will perhaps point the company toward other and more successful actions at retrieval of its market niche. Lessons learned are valuable assets - even if learned later rather than sooner.
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