Doug Sanders of Sprouts Farmers Market's Steps Down as Chairman
PHOENIX, AZ – Doug Sanders announced to Sprouts Farmers Market's Board of Directors that he plans to resign his position as Executive Chairman of the Board.
Sanders’ resignation will take effect at the company’s next board meeting on February 20, 2017; the executive plans to focus his efforts fully on his recent appointment to Chief Executive Officer of a technology company.
“Doug has been an integral part of Sprouts since our inception, and was instrumental in our evolution from one store in 2002 to one of the largest and fastest growing healthy grocery stores in the country,” said Amin Maredia, CEO of Sprouts Farmers Market, in a company press release. “On behalf of all of our team members, I’d like to thank Doug for his leadership and service to Sprouts, and we wish him well in his future endeavors.”
Sanders has been an executive at Sprouts since its founding in 2002, during which time the company increased its distribution and supply chain efficiencies, and acquired and integrated the Henry’s Farmers Market, Sun Harvest Market, and Sunflower Farmers Market chains.
Sprouts’ board appointed Independent Director Joseph Fortunato to succeed Sanders as the company’s non-executive Chairman of the Board. Fortunato will take over the roll effective February 20, 2017.
“I am very excited to serve Sprouts in my new capacity as chairman of the board,” said Fortunato. “I look forward to continuing to work with the Sprouts board and management team to build upon our trajectory and deliver value to our stockholders.”
Maredia said, “As we continue to build on our strategic initiatives to enhance our healthy living business, I look forward to working with Joe in his new role as chairman and leveraging the deep high-growth, specialty retail knowledge that Joe has built over his 40-year career.”
Fortunato has served on the board of Sprouts since 2013. His previous experience includes 24 years at GNC Holdings, Inc., including stints as the Chairman of the Board, CEO, and President of the health, wellness, and performance retailer.
AndNowUKnow wishes both Sanders and Fortunato the best in their exciting new roles.
