Phoenix, AZ—Sprouts Farmers Market announced that the company’s CEO, Amin Maredia, will transition away from the company on December 30, 2018, according to a press release.
The release stated that Maredia intends to “pursue other interests.” He will remain temporarily available in an advisory capacity to assist with the transition.
Jim Nielsen, the current president and COO, and Brad Lukow, the current CFO, will serve as the interim co-CEOs until a permanent successor has been named. Sprouts is currently engaging a firm to conduct a search for a new CEO.
Maredia became CEO in August, 2015, after four years as Sprouts’s CFO, according to Seeking Alpha. Under his leadership, Sprouts opened another 103 stores in six more states. In January, Sprouts launched its new website and mobile app, which has a reach of over 2.4 million digital subscribers as of November.
Maredia said, “It has been an enormous privilege to have been part of the Sprouts team during this incredible period in the company’s history. As I transition, it is comforting knowing that Sprouts is well-positioned with a strong management team for robust growth and sustained success.”
Joseph Fortunato, chairman of the board, said, “Over the past three years, Amin has overseen our tremendous growth from coast to coast and put us on a firm footing for continued success.”