Arizona-based Sprouts Farmers Market, Inc. announced that Denise Paulonis will join the company as chief financial officer (CFO), effective Feb. 21, 2020. Paulonis most recently served as executive vice president and CFO of The Michaels Companies the largest arts and crafts specialty retailer in North America, and brings more than 25 years of experience in finance, accounting, investor relations, corporate strategy, tax, treasury, supply chain and risk management.

“We are absolutely delighted to welcome Denise to Sprouts as our new CFO,” said Jack Sinclair, CEO and a director of Sprouts Farmers Market. “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.”

Paulonis joined Michaels in 2014 and prior to her service as executive vice president and CFO from 2016 to 2019, served in various finance roles within the organization, including senior vice president of finance and treasurer, and vice president of corporate finance, investor relations and treasury. Prior to joining Michaels, Paulonis held various senior level positions with PepsiCo from 2009 to 2014, including vice president of financial planning and analysis of the Frito Lay division, vice president of finance and strategy of PepsiCo U.S. Sales, and vice president of corporate strategy and development. Prior to joining PepsiCo, Paulonis held various senior positions with McKinsey & Company and Bank of America. Paulonis currently serves on the board of directors of Sally Beauty Holdings, Inc. and earned a bachelor of science degree in finance and economics from Miami University and a masters of business administration degree from The Wharton School at the University of Pennsylvania.

“I am privileged to join Sprouts at this exciting stage in its development,” said Paulonis. “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.”

Paulonis will report directly to Sinclair and will work closely with the company’s interim CFO, Lawrence (“Chip”) P. Molloy, to ensure a smooth transition. Molloy will remain with the company in his capacity as an independent member of its board of directors upon Paulonis’s appointment.

For more information, visit www.sprouts.com.