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Sprouts leadership in flux: new CEO, CFO resigns

Just six months after former CEO Amin Maredia left the company, Phoenix-based Sprouts Farmers Market BB #:168563 has named a former discount grocer its new chief executive.

Jack Sinclair, who was previously CEO of Commerce, CA-based 99 Cents Only Stores LLC and Executive Vice President of U.S. Grocery for Walmart Inc., Bentonville, AR, is the new CEO effective June 24.

In a news release, the company also announced interim co-CEO and CFO Brad Lukow has resigned to “pursue other opportunities” and Chip Molloy is the interim CFO until a permanent successor has been named.

The company also announced that Shon Boney, a company founder and board member since 2002, is stepping down from its board of directors. Boney the grandson of the Henry Boney, who founded Henry’s Farmers Market, the precursor to Sprouts Farmers Market.

“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 Joseph Fortunado, Sprouts Chairman of the Board, in a news release.

Sprouts was founded in 2002

Sinclair said he’s “humbled and extremely privileged” to accept the position at 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,” Sinclair said, in a news release.

Pamela Riemenschneider is the Retail Editor for Blue Book Services.