Leadership & Pay ·
Sprouts Farmers Market announced a CEO succession plan effective January 4, 2027
SFMSprouts Farmers Market, Inc.
Sprouts Farmers Market announced a CEO succession plan effective January 4, 2027. Nick Konat, currently President and COO, will become Chief Executive Officer and join the Board of Directors. Outgoing CEO Jack Sinclair will transition to Executive Chairman. The Board approved compensation for Konat, including an annual base salary increasing from $900,000 to $1,000,000, a target cash bonus of 125% of base salary, and long-term equity incentives valued at 600% of base salary. Sinclair’s new package includes a $900,000 base salary, a 100% bonus target, and 333% equity opportunity. Joseph Fortunato will serve as Lead Independent Director starting on the transition date. The company operates in the specialty grocery retail industry.