Sprouts Farmers Markets has announced that the CEO, Jack Sinclair, will transition to the role of executive chairman effective on 4 January, 2027.
He will be succeeded by the current president and chief operating officer, Nick Konat, who will step into the position of CEO on 4 January 2027.
Sinclair has worked as CEO since 2019 and oversaw the specialty grocery retailer’s business, operations, and strategy for the past years.
Additionally, as part of the leadership reshuffle, Joe Fortunado, chairman of the board, will serve as the lead independent director beginning on 4 January 2027, which is the first day of Sprouts’ fiscal year.
Sinclair said: “The board and I have spent significant time and consideration developing our succession plan, and we believe that now is the right time to transition Sprouts to its next generation of leadership.
“Following the board’s comprehensive search process, we determined that Nick was the right leader for Sprouts.
“I’ve worked closely with Nick since he joined Sprouts in 2022 and seen firsthand his talent, drive, and strong dedication to our people.”
Sinclair is set to take on an advisory position in addition to being executive chairman to ensure a smooth transition period.
Fortunato said: “The board believes that Nick’s experience, along with his deep knowledge of our business and Sprouts’ unique culture and market position, make him the ideal leader for the next phase of the company’s journey.
“This transition enables Jack’s ongoing involvement while allowing Nick’s significant depth and breadth of experience to shine even brighter.”
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