Phoenix, Arizona-based Sprouts Farmers Market announced June 20 that Jack L. Sinclair has been chosen as its new CEO and member of its board of directors, effective June 24.
Sinclair has more than 35 years of experience in retail and grocery, most recently serving as CEO of 99 Cents Only Stores LLC, a Commerce, California-based discount retailer with more than 350 locations in the U.S. He had served in that role since 2018. He served as that company’s chief merchandising officer from 2015-18. From 2007-15, Sinclair was EVP of the U.S. Grocery Division of Walmart Inc., where he led all aspects of Walmart’s U.S. grocery business at its more than 4,000 stores, which generated substantial growth under his leadership through a focus on local assortment and fresh foods.
“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 Sprouts Farmers Market board. “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.”
Before Walmart, Sinclair spent 14 years at Safeway PLC in London, where he was responsible for operations, merchandising and marketing for more than 450 Safeway supermarket and convenience store locations throughout the United Kingdom. Sinclair has served on the board of directors of The Hain Celestial Group, a leading marketer, manufacturer and seller of organic and natural products, since 2017. He earned a bachelor’s degree in economics and marketing from The University of Strathclyde, Glasgow, Scotland.
“I am humbled and extremely privileged to be appointed chief executive officer of Sprouts Farmers Market,” Sinclair said. “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.”
Other executive changes also announced
Sprouts also announced that Brad Lukow, interim co-chief executive officer and chief financial officer (CFO), has resigned to pursue other opportunities. The board has appointed Lawrence “Chip” P. Molloy to serve as interim CFO until a permanent successor has been named.
Molloy has served as a member of the company’s board of directors since 2013 and has a long-tenured career as a senior financial executive, including serving as CFO of Under Armour Inc. from 2016-17 and PetSmart Inc. from 2007-13. Molloy most recently served as interim CEO of Torrid LLC during 2018.
“Chip has chaired our audit committee for several years, and his deep knowledge of Sprouts’ business, strategy and financial operations and experience with the investment community make him best suited to lead Sprouts’ financial affairs while we conduct our search for a permanent chief financial officer,” said Fortunato.
In addition, Sprouts 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.
“Having Shon on our board has been instrumental as Sprouts has undergone rapid expansion, and we thank him for his service and contribution all these years,” said Fortunato.
The Sprouts concept is to sell fresh, natural and organic products at prices that appeal to everyday grocery shoppers. The company operates more than 320 stores in 20 states from coast to coast.
