Whole Foods Market, Inc. (NASDAQ: WFM) was having a rough day in the market today. That is, until minutes ago when the stock started spiking on news of board changes. Of course, this news led to excitement, causing the gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (1:25), WFM is trading at $36.73 per share after a gain of $0.16 per share or 0.44% thus far today.
WFM Announces Coming Board Changes
As mentioned above, Whole Foods Market was having a rough day in the market today. However, minutes ago, news broke that the company is going to be making some massive management changes. In fact, the company will be changing more than half of its Board of Directors. One of those changes being a change to the Chairman position, which is held by Dr. John Elstrott at the moment.
While there is not much news readily available on these changes as of yet, we do know that the changes are going to be taking place. However, this has nothing to do with the ongoing issues with regard to Jana Partners and is not said to be a settlement.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on WFM. In particular, we’re interested in following the news of the board changes as well as ongoing talks with Jana Partners. Nonetheless, we’ll continue to follow the story closely and bring the details to you as they break!
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