Nearly seven months after Amin Maredia unexpectedly stepped down, Sprouts Farmers Market has a new CEO. The Phoenix-based retailer announced that Jack L. Sinclair has been appointed the company's new CEO and a member of its board of directors.
At the same time, Sprouts announced that Brad Lukow — the company's CFO and who had served as co-CEO after Maredia's departure — has resigned to pursue other opportunities. In addition, Shon Boney, a founder of the company, has stepped down from the board, where he had served for 17 years.
Sinclair has more than 35 years of retail and grocery experience, previously serving as CEO of 99 Cents Only Stores LLC as well as executive vice president of the US Grocery Division of Walmart.
“We are extremely excited to have Jack Sinclair as our new chief executive officer following a thorough search and selection process by the board of directors,” says Joseph Fortunato, chairman of the board of Sprouts Farmers Market. “Jack is a proven chief executive officer with an outstanding track record in grocery and retail merchandising. On behalf of the board, we look forward to working with Jack as he leads Sprouts forward to continued success.”
Sprouts said the company's board has appointed Lawrence "Chip" Mollow as interim CFO while a search begins for Lukow's replacement.