May 11, 2017 / 3:13 PM / 2 months ago

Whole Foods board overhaul prompts lingering concerns for Jana-source

1 Min Read

NEW YORK, May 11 (Reuters) - The board overhaul at Whole Foods Markets Inc has failed to satisfy activist investor Jana Partners, according to a person familiar with the matter, as the hedge fund harbors concerns about the company's new directors and operational plan.

Jana, which owns 8.3 percent of the company, is worried about the lack of grocery experience among the five directors the company introduced on Wednesday, the person said, as well as their arrival after the company's roll out of a new operational plan. (Reporting by Michael Flaherty)

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