PHOENIX (AP) -- A Maricopa County magistrate has set a $12,000 bond for a natural foods executive arrested on suspicion of soliciting sex with a minor.

Sunflower Farmers Market Chief Executive Officer Michael Gilliland was arrested Thursday and faces a charge of felony child prostitution. Court paperwork shows Gilliland was ordered not to have contact with minors.

Gilliland also founded Wild Oats Markets Inc., which was acquired by Whole Foods Market in 2007.

Phoenix police say Gilliland was one of eight men arrested in a sting.

Sunflower said Gilliland told the company he believes he is not guilty. Sunflower's president and COO, Chris Sherrell, was named acting chief executive by the company's board of directors.

The chain has 32 stores in California, Colorado, Arizona, New Mexico, Nevada, Utah and Texas.

Copyright 2011 The AP.

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