Sprouts Farmers Market's CFO to Retire

Healthy grocer Sprouts Farmers Market, Inc. has revealed that CFO Lawrence (“Chip”) P. Molloy will retire at the end of 2023.

“On behalf of the entire Sprouts community, I want to extend our deepest thanks to Chip for his many years of leadership and dedication to our company,” said Jack Sinclair, CEO of Sprouts Farmers Market. “Chip played an integral role in Sprouts’ development into a national brand and helped to usher in our long-term growth strategy. We are grateful for Chip’s many contributions to Sprouts’ long-term success and wish him well in his retirement.”

[Read more: “New Sprouts Farmers Market in Fort Myers Among Round of Openings”]

Molloy joined Sprouts in 2013 as a member of its board of directors, and served as its interim CFO from June 2019 to February 2020. He continued to serve on Sprouts’ board prior to his appointment as its CFO in September 2021.

“It’s an honor to have been a part of Sprouts’ board and executive leadership team,” said Molloy. “I’m proud of our significant growth over the past 10 years and the strategic changes we’ve made to mature into a financially robust company that’s delivered value to its shareholders. Next year, I’ll be cheering on Sprouts from the sidelines, and I wish the team continued success.”

The specialty retailer will conduct an internal and external search for a successor to Molloy.

Before his career at Sprouts, Molloy served as interim CEO at fashion retailer Torrid as well as CFO at Under Armour and Petsmart. He was also senior advisor at Roark Capital Group, a private equity firm focused predominately on the restaurant and retail sectors. Molloy currently serves on the board of directors for Sally Beauty.  

Phoenix-based Sprouts Farmers Market employs approximately 31,000 associates and operates almost 400 stores in 23 states nationwide. The company is No. 51 on The PG 100, Progressive Grocer’s 2023 list of the top food and consumables retailers in North America.