Updates on Grocery Outlet's Board of Directors
New Board Members Join Grocery Outlet Holding Corp.
Michael Kobayashi and Lawrence “Chip” Molloy have been appointed as new members of the board of directors at Grocery Outlet Holding Corp., a leading discount grocery retailer based in Emeryville, Calif.
Michael Kobayashi, a 20-year industry veteran, brings decades of leadership experience in the retail sector to the table. He is currently an advisor to Ross Stores, Inc. and previously held several senior roles at the discount retailer, including president and chief capability officer. With his expertise in driving operational excellence and leading large-scale technology transformations, Kobayashi will provide valuable insights to Grocery Outlet's board.
Lawrence “Chip” Molloy, on the other hand, boasts significant financial leadership experience in growth-oriented retail companies. He was the CFO of Sprouts Farmers Market from 2021 to 2023 and served on Sprouts' board prior to that. Molloy has also held executive roles at specialty retailers such as Torrid Holdings, Under Armour, and PetSmart. His proven financial leadership experience will complement Grocery Outlet's efforts to sharpen focus on further driving strong investment returns and greater profitability.
Both Kobayashi and Molloy will serve on Grocery Outlet’s Audit and Risk Committee, contributing to the company’s efforts to improve growth and profitability as part of a broader Board refreshment initiative.
The departure of Kenneth Alterman and Thomas Herman, current directors at Grocery Outlet Holding Corp., will leave eight of the 10 board members as independent directors. This move reflects a commitment to periodic board refreshment and a focus on executing the growth plan and enhancing shareholder value.
Grocery Outlet offers products through a network of independently operated stores at more than 520 locations in various states. The company reported a 8.5% growth in net sales during the first fiscal quarter that ended in late March, with a 0.3% lift in comps and a 31.7% gain in adjusted EBITDA. Grocery Outlet is No. 65 on The PG 100, Progressive Grocer's 2025 list of the top food and consumables retailers in North America.
Eric Lindberg, chairman of Grocery Outlet's board of directors, made these statements regarding the new board members.
Lawrence "Chip" Molloy, with experience as CFO at Sprouts Farmers Market, Inc. and PetSmart LLC, has also joined the board of directors at Grocery Outlet Holding Corp. Molloy, who was a U.S. Navy fighter pilot for 10 years and retired with the rank of Commander, brings a unique perspective to the board.
Michael Kobayashi, with his extensive leadership experience in the retail industry, will undoubtedly bring valuable insights to Grocery Outlet's board as they continue to drive operational excellence and technology transformations.
[1] Source: Grocery Outlet Holding Corp. press release [3] Source: Grocery Outlet Holding Corp. press release [5] Source: Grocery Outlet Holding Corp. press release
Michael Kobayashi's expertise in the retail industry, particularly in driving operational excellence and leading large-scale technology transformations, will offer valuable insights to the finance sector of Grocery Outlet Holding Corp.
Lawrence "Chip" Molloy's financial leadership experience in growth-oriented retail companies, including his tenure as CFO at Sprouts Farmers Market, will complement Grocery Outlet's business strategies focused on enhancing shareholder value.
