Grocery Outlet Provides Update on Company's Board of Directors
Grocery Outlet Holding Corp. Announces New Board Members to Drive Growth and Boost Shareholder Value
Grocery Outlet Holding Corp., the popular discount grocery chain, has announced changes to its board of directors. Michael Kobayashi and Lawrence "Chip" Molloy have been appointed to the board, effective June 26, 2025. Both Kobayashi and Molloy will also serve on the board's audit and risk committee.
Michael Kobayashi brings over 20 years of executive leadership experience in retail technology, supply chain, and store operations. He most notably worked at Ross Stores, Inc., a public discount retailer, where he held key leadership roles such as President and Chief Capability Officer and Group Executive Vice President of Supply Chain and Technology. Kobayashi's expertise is expected to help Grocery Outlet drive operational excellence and leverage recent technology system integrations.
Lawrence "Chip" Molloy, on the other hand, has extensive financial leadership experience in the retail sector. He was previously the CFO of Sprouts Farmers Market, Inc., and he has held senior financial roles including interim CEO at Torrid Holdings Inc., CFO at Under Armour, Inc., and CFO of PetSmart LLC. Molloy's financial acumen is intended to complement Grocery Outlet’s goals of enhancing profitability and investment returns during a growth phase.
These appointments temporarily increased Grocery Outlet's board size from 10 to 12 directors, with plans to reduce it back to 10 after the retirement of two other directors in August 2025. The board changes underscore the company’s focus on executing its growth strategy and boosting shareholder value.
Current directors Kenneth Alterman and Thomas Herman will retire on August 7. In a statement, Ken Alterman and Tom Herman, retiring board members, have been thanked for their many years of extraordinary service and dedication to Grocery Outlet. Their contributions have shaped Grocery Outlet into the resonant brand it is today and set the business on a path to deliver sustainable, profitable growth in the years to come.
After their departure, eight of the 10 board members will be independent. Grocery Outlet is ranked No. 65 on The PG 100, Progressive Grocer’s 2025 list of the top food and consumables retailers in North America. The retailer operates through a network of independently operated stores at more than 520 locations in various states.
Molloy is currently a board member at Sally Beauty Holdings, Inc., Pet Valu Holdings Ltd., and BRC Inc. (Black Rifle Coffee Company). The updates come as Grocery Outlet continues to vie for its share of consumers' wallets, with the retailer reporting 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. The changes in the board of directors are expected to further strengthen Grocery Outlet's position in the competitive retail market.
[1] Ross Stores, Inc. - [2] Sprouts Farmers Market, Inc. - [3] Torrid Holdings Inc. - [4] Under Armour, Inc. - [5] PetSmart LLC - [6] Sally Beauty Holdings, Inc. - [7] Pet Valu Holdings Ltd. - [8] BRC Inc. (Black Rifle Coffee Company) - [9] Progressive Grocer’s The PG 100 -
Michael Kobayashi's experience in retail technology, supply chain, and store operations at Ross Stores, Inc., a public discount retailer, will enable Grocery Outlet to drive operational excellence and leverage recent technology system integrations.
Lawrence "Chip" Molloy's financial leadership experience in the retail sector, particularly at Sprouts Farmers Market, Inc., is expected to complement Grocery Outlet's goals of enhancing profitability and investment returns during a growth phase.
