PHOENIX, AZ - In a move that shocked the grocery sector this morning, Sprouts Farmers Market announced that its CEO, Amin Maredia, is leaving the company to pursue other interests, effective December 30, 2018. Taking his place for the time being will be Jim Nielsen, President and COO, and Brad Lukow, CFO, who will serve as the retailer’s co-interim CEOs until a permanent successor is named.
“It has been an enormous privilege to have been part of the Sprouts team during this incredible period in the company’s history over the past eight years,” said Maredia in a press release. “As I transition, it is comforting knowing that Sprouts is well-positioned with a strong management team for robust growth and sustained success.”
That press release also noted that the company is currently engaging with an executive search firm to best conduct its search for a new CEO. Maredia will remain available in an advisory role for a period of time to assist with the transition.
“On behalf of the Board of Directors, I would like to express our gratitude to Amin for his many years of service to Sprouts,” said Joseph Fortunato, Chairman of the Board. “Over the past three years, Amin has overseen our tremendous growth from coast to coast and put us on a firm footing for continued success. We wish Amin all the best in his future endeavors. While we search for a new CEO, the Board has deep confidence in Jim and Brad to continue executing the company’s strategic initiatives, driving shareholder value, and delivering on our mission of ‘Healthy Living for Less.’”
Who will the retailer find to take Marieda’s place? AndNowUKnow will have its eyes peeled for the latest in any developing news.
