Sprouts names former Petco exec as its next CEO
There’s going to be a change at the top at Sprouts Farmers Market come the first day of its fiscal 2027 year.
The fast-growing specialty grocer of fresh, natural and organic food said that, as part of a planned leadership transition, Nick Konat, currently president and COO, will take on the role of CEO and join the board of directors, effective Jan. 4. He will succeed Jack Sinclair, who has served as CEO since 2019, who will move to the role of executive chairman.
“The board and I have spent significant time and consideration developing our succession plan, and we believe that now is the right time to transition Sprouts to its next generation of leadership,” said Sinclair. “Following the board’s comprehensive search process, we determined that Nick was the right leader for Sprouts. I’ve worked closely with Nick since he joined Sprouts in 2022 and seen firsthand his talent, drive and strong dedication to our people.”
Prior to joining Sprouts, Konat spent more than six years at Petco Health and Wellness Company, including as chief merchandising officer. Before that, he served more than nine years at Target Corp., where he held a range of merchandising, planning, and leadership roles across the food and fashion categories.
“It will be an honor to serve as the next CEO of Sprouts at this exciting and important time for our company,” said Konat. “We remain focused on executing our growth strategy, expanding into new markets and strengthening our connection with customers as we navigate an evolving consumer environment."
Sprouts is on track to open 42 net new stores this year, slightly ahead of its original guidance. The company will open at least 15 stores in the third quarter, marking its largest quarterly opening cadence to date.
As part of this leadership transition, Sprouts chairman Joe Fortunato will serve as lead independent director beginning Jan. 4, the first day of Sprouts’ 2027 fiscal year.
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“Jack [Sinclair] has guided the company through a significant phase of transformation and value creation,” said Fortunato. “We are extremely grateful for his leadership. The board believes that Nick’s experience, along with his deep knowledge of our business and Sprouts’ unique culture and market position, make him the ideal leader for the next phase of the company’s journey. We are also pleased that Jack will continue serving as a trusted partner to him.”
Headquartered in Phoenix, Sprouts operates more than 480 stores in 25 states nationwide.
