OPERATIONS

Whole Foods CEO Apologizes for Postings

BY CSA STAFF

Austin, Texas, Whole Foods Market announced Tuesday that its board of directors has formed a special committee to investigate CEO John Mackey’s postings regarding Wild Oats on the Yahoo! financial message boards.

Whole Foods also released the following statement from Mackey: “I sincerely apologize to all Whole Foods Market stakeholders for my error in judgment in anonymously participating on online financial message boards. I am very sorry and I ask our stakeholders to please forgive me.”

Earlier this week, on the Whole Foods Web site, Mackey confirmed that he did submit a number of postings to the Yahoo! financial bulletin boards regarding Whole Foods and Wild Oats under the name “Rahodeb.” He added that the comments he made did not always reflect his personal views and that he was merely playing “devil’s advocate,” in order to stir up discussion on the topic.

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Redner’s mourns death of co-founder

BY CSA STAFF

READING, Pa. Mary Redner, co-founder of Redner’s Markets Inc., died Saturday at Reading Hospital, where she was a patient for five days.

In 1970, she and her husband, Earl Redner, co-founded Redner’s Markets, which they operated for 20 years before retiring in 1990, when they turned the business over to their sons.  After retirement, Mary remained an active member of Redner’s board of directors. Today Redner’s Markets is a regional chain of full-service grocery and convenience stores with locations throughout Eastern Pennsylvania, New York and Maryland.

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PPR completes takeover of PUMA

BY CSA STAFF

PARIS The PPR group today announced that after the expiry of the additional acceptance period of its voluntary public takeover offer for PUMA it has become the majority shareholder with a 62.1% stake in PUMA.

Francois-Henri Pinault, chairman and ceo of PPR and chairman of the supervisory bof PUMA, stated: “We are very pleased with the final result of our offer to the PUMA shareholders who have sent a strong signal of support for the transaction. We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision.”

On April 10, PPR acquired a controlling stake in PUMA and announced the launch of a friendly voluntary public takeover offer at a price of $392.86 per share. The voluntary public takeover offer to the other PUMA shareholders started on May 14 and the additional acceptance period expired on July 11.

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