Sprouts Farmers Market Names Lawrence Molloy as Chief Financial Officer Following Departure of Denise Paulonis; Jack Sinclair Comments
PHOENIX, AZ - It’s always an exciting time around the ANUK office when there is news of leadership appointments, especially when it’s a Chief officer coming on board. Sprouts Farmers Market is bolstering its C-suite roster with the announcement of Lawrence “Chip” Molloy as the new Chief Financial Officer of the company.
“I am thrilled to be joining Jack and the Sprouts leadership team,” said Molloy. “I have proudly served Sprouts for the past eight years, and I couldn’t be more excited about our current growth trajectory as we continue to implement our strategic priorities to deliver value to our stockholders.”
Currently, Molloy is a member of Sprouts’ Board of Directors. He has served the Board since 2013 and was its interim Chief Financial Officer from June 2019 to February 2020.
According to the release, Molloy will be taking up the mantle as Chief Financial Officer effective September 25, 2021.
“There is no better successor to oversee our financial function than Chip,” said Jack Sinclair, Chief Executive Officer of Sprouts Farmers Market. “Chip’s extensive knowledge of all aspects of our business and strategy and long-tenured executive experience makes him ideally suited to lead our finance team as we execute on our strategy.”
Bringing over 30 years of experience to his role, Molloy has held many executive leadership roles. In addition to his tenure at Sprouts, he served as the Chief Financial Officer of PetSmart and Under Armour. Additionally, he was the interim Chief Executive Officer of Torrid.
As Molloy steps up as the next CFO, he will also be stepping down from the Sprouts Board of Directors. Additionally, current CFO Denise Paulonis will be departing from the company.
“It has been a privilege to work alongside Jack and the Sprouts team,” said Paulonis. “While I look forward to ascending to a Chief Executive Officer role, I am confident that Sprouts is well-positioned for long-term profitable health.”
Paulonis has held the CFO position at Sprouts since February 2020. As noted in the release, she will be departing the company to join a publicly traded retailer as its new CEO.
“On behalf of the Sprouts Board of Directors and [the] entire Sprouts team, I want to sincerely thank Denise for her service to Sprouts,” continued Sinclair. “Denise was integral in the formation of our long-term growth strategy and has set the company up for continued and sustained success. I wish her the best as she assumes an exciting new leadership role.”
Congratulations all around as Lawrence Molloy and Denise Paulonis take the next step in their journeys!