Whole Foods Market has appointed Keith Manbeck as executive vice president and chief financial officer (CFO).
Manbeck joins Whole Foods with more than 20 years of financial and operational experience at leading companies, most recently at US department store business Kohl’s, where he helped lead key transformation initiatives, including the company’s development of its digital commerce business. Previously Manbeck served as global vice president and CFO for Nike’s direct to consumer business.
The appointment is part of a management shake-up at Whole Foods – the company also named five new independent directors to its board – as the business aims to steady investor nerves following seven straight quarters of same-store sales declines.
“Keith’s proven experience will be a great addition to our team,” said John Mackey, co-Founder and chief executive officer of Whole Foods Market. “Keith has a track record of success at leading retail companies, including Kohl’s and Nike, where he led key transformation initiatives with great results. He is a proven leader who knows how to drive strategic change, while maintaining the culture and values that make a company great. We are confident Keith’s financial and operational expertise will allow him to hit the ground running as we move forward with our plan to improve financial and operational performance.”
“I am excited to join Whole Foods Market and help the company deliver long-term, profitable and sustainable growth,” Manbeck said. “I have admired Whole Foods Market for many years, both as a customer and as an executive. I share the Company’s commitment to delivering nutritious food, a best-in-class customer experience and value for shareholders. I look forward to working closely with the entire Board and leadership team to implement financial strategies to support the Company’s continued growth and success.”
