Next week, former Trader Joe’s President Doug Rauch is slated to join the Sprouts Farmers Market board of directors.
Rauch is scheduled to start as a board member on Feb. 25, Phoenix-based Sprouts said late Thursday, when the fresh, natural and organic grocer also reported fiscal 2019 financial results.
Year over year, net sales rose 8% to $1.4 billion, while full-year net sales grew by the same percentage to $5.6 billion. Same-store sales gained 1.5% in the quarter and 1.1% for the year.
"Sprouts shares my beliefs of making healthy living affordable to everyday grocery shoppers," former Trader Joe's executive Doug Rauch commented.
"I am pleased to join the Sprouts board at this exciting time,” Rauch said in a statement. “Sprouts shares my beliefs of making healthy living affordable to everyday grocery shoppers and conducting its business in a way that is also good for the planet, and I look forward to working with the board and management team to help guide the company’s path forward.”
Rauch spent 31 years at Trader Joe’s, including 14 years as a president. Most recently at Trader Joe’s, he served as the chain’s president from January 2006 to June 2008. Before that, he was president of Trader Joe’s East from January 1995 to January 2006 and vice president of merchandising from November 1977 to January 1995.
Sprouts noted that Rauch was pivotal in Trader Joe’s growth from nine stores in California to a national chain, as well as in developing its “prized buying philosophy” and private-label food program.
“We are thrilled to add Doug to our board of directors,” stated Sprouts CEO Jack Sinclair. “Doug is a seasoned grocery veteran whose decades of experience at one of the most well-regarded retailers in the industry will be invaluable to our company as we continue to develop our long-term strategy.”
Currently, Rauch also serves as president of Daily Table, a retail concept he founded in October to bring affordable nutrition to Boston’s inner city. He’s a founding board member and onetime CEO of Conscious Capitalism, an organization that aims to encourage businesses to works as a force for good.
Overall, Sprouts operates about 340 stores in 22 states from coast to coast.