Sprouts Taps Denise Paulonis as New CFO

Sprouts Farmers Market has named Denise Paulonis as its new chief financial officer, effective Feb. 21.

Paulonis most recently was CFO of The Michaels Cos., operator of the Michaels chain of craft stores. She previously held senior-level positions with PepsiCo from 2009 to 2014, including VP of financial planning and analysis of the Frito-Lay division; VP of finance and strategy of PepsiCo U.S. Sales; and VP of corporate strategy and development.

At Phoenix-based Sprouts, which operates 322 natural and organic stores, Paulonis will succeed Lawrence “Chip” Molloy, who had been interim CFO since Brad Lukow departed over the summer. Molloy will remain an independent member of the Spouts board following Paulonis’ appointment. “We are absolutely delighted to welcome Denise to Sprouts as our new CFO,” Jack Sinclair, CEO of Sprouts, said in a statement. “Denise’s deep experience in specialty retail and financial acumen will be invaluable to our leadership team as we chart the long-term strategy of our company.”

Denise Paulonis

Paulonis will report directly to Sinclair and will work closely with Molloy to ensure a smooth transition, the company said.

“I am privileged to join Sprouts at this exciting stage in its development,” Paulonis said. “This company pioneered making healthy eating accessible to everyday grocery shoppers, and I look forward to working with the team to build upon this foundation to create long-term shareholder value.” 

Prior to joining PepsiCo, Paulonis held various senior positions with McKinsey & Co. and Bank of America. Paulonis currently serves on the board of directors of Sally Beauty Holdings and earned a Bachelor of Science degree in finance and economics from Miami University and an MBA from The Wharton School at the University of Pennsylvania.

She departs Michaels as a new CEO, former Walmart e-commerce executive Ashley Buchanan, arrives.