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Recently named the hottest retailer in the country on the Stores 100 Hot Retailers list, Sprouts Farmers Market announced it was promoting President Doug Sanders to be CEO of the company, with former CEO Shon Boney moving over to become chairman of the board.
In a news release announcing the move last week, Phoenix-based Sprouts said the transition for Boney would allow him to devote more time to his family, which lives in San Diego. Boney’s father, Stan, was the previous chairman of the board and will continue to serve as an active board member.
Sanders joined Sprouts in 2002 when the company had one store and was promoted to president in 2005. He has helped steer the company to its current 147 stores and through a major merger this year with Sunflower Markets.
“There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership,” Shon Boney said in the release. “With the successful integration of the Henry’s and Sunflower acquisitions, Sprouts is shifting its focus back to accelerated organic new store growth, and we felt the time was right to transition Doug into the CEO position. … I look forward to continuing to provide strategic guidance as an active board chairman going forward.”