Wild Oats Will Not Renew CEO Odak's Contract
BOULDER, Colo. -- Organic and natural foods retailer Wild Oats Markets said in a regulatory filing that it has notified c.e.o. Perry Odak that his employment agreement would not be renewed beyond its current term, which expires March 19, 2007.
According to the filing, Odak, who has been with Wild Oats for more than five years, and the board had not reached a mutually satisfactory agreement that would lead to a contract renewal.
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"The board and Perry Odak have already filed two extensions to negotiate the contract," Sonja Tuitele, sr. dir. of investor relations told Progressive Grocer yesterday. "Having still not come to an agreement, they discontinued talks."
Tuitele said yesterday it was too early to speculate whether or not Odak would remain with Wild Oats after the contract expires about five months from now. "He may still continue without a contract, or they may reach an agreement in th e future, but it's too early to tell," Tuitele said.
-- Joseph Tarnowski
According to the filing, Odak, who has been with Wild Oats for more than five years, and the board had not reached a mutually satisfactory agreement that would lead to a contract renewal.
(Story continues below.)
"The board and Perry Odak have already filed two extensions to negotiate the contract," Sonja Tuitele, sr. dir. of investor relations told Progressive Grocer yesterday. "Having still not come to an agreement, they discontinued talks."
Tuitele said yesterday it was too early to speculate whether or not Odak would remain with Wild Oats after the contract expires about five months from now. "He may still continue without a contract, or they may reach an agreement in th e future, but it's too early to tell," Tuitele said.
-- Joseph Tarnowski