Sprouts Farmers Market Names Jack Sinclair New CEO
Sprouts Farmers Market named Jack Sinclair its new CEO and board member, effective June 24, 2019. The grocer has been conducting a search for a new CEO since Amin Maredia stepped down from the position on Dec. 30, 2018.
The company also announced that Brad Lukow, interim co-CEO and CFO has resigned. Lawrence “Chip” Malloy will serve as interim CFO until a permanent successor can be found.
“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,” said 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.”
Sinclair has 35 years of experience in grocery and retail, previously serving as CEO of 99 Cents Only Stores. He also previously was EVP of the U.S. grocery division for Walmart, where he led all aspects of the mass retailer’s grocery business and was instrumental in the division’s growth through a focus on local assortment and fresh foods. Before that, he spent 14 years with Safeway PLC in London.
“I am humbled and extremely privileged to be appointed chief executive officer of Sprouts Farmers Market,” said Sinclair. “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. I look forward to working with Sprouts’ board of directors, leadership team and all Sprouts team members to continue furthering that purpose.”
The natural and organic grocer also announced that Shon Boney will step down from the board. Boney is a founder of the company and has been a board member since 2002.
Specializing in fresh, natural and organic products, Sprouts employs more than 30,000 associates and operates 300-plus stores in 19 states. The company is No. 22 on Progressive Grocer’s 2019 Super 50 list of the top grocers in the United States.