Doug Sanders told board of directors of Phoenix-based Sprouts Farmers Market Inc. last week that he intends to resign as executive chairman, effective Feb. 20, so he can focus his efforts on his new appointment as CEO 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,” Sprouts Farmers Market CEO Amin Maredia said. “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.”
The board appointed Joseph Fortunato, an independent director, as the non-executive chairman of the board to take his place. Fortunato has been a member of the board since 2013 and previously worked for GNC Holdings Inc., most recently as its chairman of the board, chief executive officer and president.
“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,” Maredia said.