Sprouts Announces New CEO, Departure of CFO

Phoenix, AZ—Sprouts Farmers Market, Inc. announced in a press release that Jack L. Sinclair has been appointed the company’s CEO and a member of its board of directors, effective June 24, 2019.

Sinclair brings over 35 years of experience in retail and grocery, the release says. He has been both CMO and CEO of 99 Cents Only Stores LLC; he has been the EVP of the U.S. Grocery Division of Walmart; and he has spent 14 years at Safeway PLC in London. He has served on the board of directors of The Hain Celestial Group since 2017.

Joseph Fortunato, chairman of the board, said in the release: “We are extremely excited to have Jack Sinclair as our new CEO following a thorough search and selection process by the board of directors. We look forward to working with Jack as he leads Sprouts forward to continued success.”

Sinclair said in the release: “I am humbled and extremely privileged to be appointed CEO of Sprouts. Sprouts is a company with a higher purpose—to empower every person to eat healthier and live a better life—and the commitment of its 30,000 team members to drive lasting change in the communities they serve truly resonates with me.”

In other Sprouts news, the press release noted that Brad Lukow, interim co-CEO and CFO, has resigned to pursue other opportunities. Lawrence P. Molloy will serve as interim CFO until a permanent successor has been named.

Shon Boney, a founder of the company, will step down from the board, on which he has served since 2002.