Lawrence “Chip” Molloy, currently a member of Sprouts Farmers Market’s board of directors, has been appointed chief financial officer of the company, effective September 25. Molloy will succeed Denise Paulonis, who is departing the company to join a publicly traded retailer as its CEO.
“There is no better successor to oversee our financial function than Chip,” said Jack Sinclair, CEO of Sprouts Farmers Market, in a statement. “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.”
Molloy has served on Sprouts’ board of directors since 2013 and was its interim CFO from June 2019 to February 2020.
“I am thrilled to be joining Jack and the Sprouts leadership team,” said Molloy, in a statement. “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.”
Prabash Coswatte has been promoted to COO of Cardenas Markets, reports Progressive Grocer. Coswatte will continue to report directly to Cardenas Chairman and CEO Doug Sanders and oversee the company’s store operations, loss prevention, information technology, data integrity, scanning, receiving, maintenance, construction, and real estate departments.
“Prabash has proven to be a successful and trusted member of our senior leadership team who consistently delivers results that drive our business,” said Sanders. “I’m confident that through his outstanding leadership and strategic vision, Cardenas Markets is poised for continued success.”
Coswatte joined Cardenas as CIO in 2019 and became chief administration officer this past February. Full Story
Related: Sprouts Farmers Market Opens New Produce Distribution Center; Sprouts Commits to Offering Unique Products.
Image: Sprouts Farmers Market