Phoenix-based Sprouts Farmers Market has announced that CFO Lawrence “Chip” P. Molloy will retire at the end of 2023. The company will conduct an internal and external search for a successor.
“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.
“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.”
Molloy joined Sprouts in 2013 as a member of its board of directors, then served as interim CFO from June 2019-February 2020. He continued to serve on Sprouts’ board prior to his appointment as its CFO in September 2021.
Molloy described his time on Sprouts’ board and executive leadership team as an “honor.”
“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.”
One of the largest specialty retailers of fresh, natural and organic food in the U.S., Sprouts Farmers Market has about 31,000 employees and operates more than 390 stores in 23 states nationwide.
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