Whole Foods Market (Austin, Texas) has announced changes to its board, including naming a new board chair. Gabrielle Sulzberger will succeed John B. Elstrott Jr. as the board's chair. She is a financial executive who has been on the board since 2003, reports Fox Business.
Additionally, five directors will also step down immediately and will be replaced by nominees coming from companies including Foot Locker (New York), Best Buy (Richfield, Minn.) and the founder of Panera (St. Louis).
The news comes as one of the company’s investors has publicly urged the grocery chain to improve its profitability, even so far as exploring a sale.
The company also announced other changes to help speed up its turnaround, including speeding up a nationwide roll out of a customer loyalty program, streamlining its shelf stocking by next year and continuing to lower food prices.