Sprouts Farmers Market Names New Chief Financial Officer
PHOENIX, AZ - A new year, new you mentality tends to pervade the mind throughout January. When it’s a new decade, however, you have to truly pull out all the stops. For Denise Paulonis, this new year/new decade mentality landed her at Sprouts Farmers Market, where it was recently announced that she would become the retailer’s Chief Financial Officer. She will begin her role February 21, 2020.
“I am privileged to join Sprouts at this exciting stage in its development,” said Paulonis in a recent press release. “This company pioneered making healthy eating accessible to everyday grocery shoppers, and I look forward to working with the team to build upon this foundation to create long-term shareholder value.”
Paulonis most recently served as Executive Vice President and Chief Financial Officer of The Michaels Companies, and brings more than 25 years of experience in finance, accounting, investor relations, corporate strategy, tax, treasury, supply chain, and risk management.
“We are absolutely delighted to welcome Denise to Sprouts as our new CFO,” said Jack Sinclair, Chief Executive Officer and a Director of Sprouts Farmers Market. “Denise’s deep experience in specialty retail and financial acumen will be invaluable to our leadership team as we chart the long-term strategy of our company.”
Prior to being Michaels’ Executive Vice President and CFO from 2016-2019, Paulonis held a variety of finance roles within the company, including Senior Vice President of Finance and Treasurer and Vice President of Corporate Finance, Investor Relations, and Treasury. She held various senior level positions with PepsiCo from 2009 to 2014, including Vice President of Financial Planning and Analysis of the Frito Lay division, Vice President of Finance and Strategy of PepsiCo U.S. Sales, and Vice President of Corporate Strategy and Development.
Before joining PepsiCo, Paulonis also held various senior positions with McKinsey & Company and Bank of America. She currently serves on the Board of Directors of Sally Beauty Holdings and earned a bachelor of science degree in finance and economics from Miami University and a masters of business administration degree from The Wharton School at the University of Pennsylvania.
Paulonis will report directly to Sinclair. She will work closely with the company’s interim chief financial officer, Lawrence (“Chip”) P. Molloy to ensure a smooth transition. Molloy will remain with the company in his capacity as an independent member of its Board of Directors upon Paulonis’s appointment.
Congratulations to Denise on this new and exciting position!