Sprouts Farmers Market has named President and Chief Operating Officer Nick Konat as its next chief executive officer, effective Jan. 4, 2027, as the specialty grocer prepares for a planned transition from longtime CEO Jack Sinclair.
Konat will also join the Phoenix-based retailer’s board of directors. Sinclair, who has led Sprouts since June 2019, will become executive chairman and remain involved in the company’s strategy and leadership.
The change will take effect on the first day of Sprouts’ 2027 fiscal year. Joe Fortunato, the company’s current board chairman, will become lead independent director at that time.
Konat joined Sprouts in March 2022 as president and COO. He oversees store operations, marketing, merchandising, supply chain and innovation and has played a central role in executing the company’s growth strategy.
“The board and I have spent significant time and consideration developing our succession plan,” Sinclair said. He added that a comprehensive search determined Konat was the right executive to lead the company.
Konat said Sprouts would remain focused on opening stores, entering new markets and strengthening its relationships with customers as it navigates a more cautious consumer environment.
Before joining Sprouts, Konat spent more than six years at Petco Health and Wellness Co., ultimately serving as chief merchandising officer. He previously spent more than nine years at Target, holding merchandising, planning and leadership positions across its food and apparel businesses. Earlier in his career, he worked for Accenture.
Konat will take over as Sprouts continues an aggressive expansion program but faces slower comparable-store sales following several years of strong growth.
The retailer reported second-quarter net sales of $2.33 billion, up 5% from a year earlier, while comparable-store sales declined 1%. Sprouts opened seven stores during the quarter, bringing its total to 490 locations across 25 states as of June 28. The company expects to add 42 net new stores during fiscal 2026.
Sprouts employs approximately 36,000 people and specializes in fresh, natural and organic foods.