Whole Foods Market Inc. reported Wednesday that fiscal second-quarter profits had more than doubled and raised its full-year earnings forecast. The company also shook up its management team, naming a co-chief executive, though current CEO and co-founder John Mackey said he expects to work "for another decade or so."
The Austin, Texas,-based grocer promoted its co-chief operating officers, Walter Robb and A.C. Gallo. Mr. Robb will become a voting board member and assume co-CEO duties with Mr. Mackey. Mr. Gallo will have the sole designation of chief operating officer and president.
"There's plenty of work for both of us to do—I don't think we'll be getting in each other's way," Mr. Mackey said of the co-CEO in an interview. Despite the title changes, neither Mr. Robb nor Mr. Gallo should see a drastic change to their day-to-day responsibilities, Mr. Mackey said during a Wednesday conference call.
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