Amin Maredia, Sprouts Farmers Market Inc.’s CEO and a member of its board of directors, will “transition away from the company” on Dec. 30 to pursue other interests, says Sprouts. Jim Nielsen, Sprouts’ president and chief operating officer, and Brad Lukow, the company’s CFO, will serve as co-interim CEOs until a permanent successor is named.
Sprouts is in the process of engaging an executive search firm to conduct a search for its new CEO. Maredia will remain available for a period of time in an advisory role to assist with the transition.
“On behalf of the board of directors, I would like to express our gratitude to Amin for his many years of service to Sprouts,” said Joseph Fortunato, chairman of the board. “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. We wish Amin all the best in his future endeavors. While we search for a new CEO, the board has deep confidence in Jim and Brad to continue executing the company’s strategic initiatives, driving shareholder value and delivering on our mission of ‘Healthy Living for Less.’”
“It has been an enormous privilege to have been part of the Sprouts team during this incredible period in the company’s history over the past eight years,” said Maredia. “As I transition, it is comforting knowing that Sprouts is well-positioned with a strong management team for robust growth and sustained success.”
Nielsen joined Sprouts in April 2011 as its COO and has served as the company’s president and COO since August 2015. Prior to that, Nielsen served as president of Henry’s Farmers Markets. Lukow has served as Sprouts’ CFO since March 2016, having previously served as EVP and CFO of Shoppers Drug Mart, a Canadian drug store company.