Sprouts Farmers Market has selected Curtis Valentine, who currently serves as the retailer’s senior vice president of finance, to serve as its next CFO, the company announced Tuesday. 

Valentine will assume the role on Jan. 1, 2024, from Lawrence “Chip” Molloy, who is retiring at the end of 2023. When his promotion takes effect, Valentine will become the third person to hold the CFO’s role at Sprouts in less than four years.

Valentine has worked for Sprouts since May 2015, when he joined the specialty grocery chain as senior director of financial planning, according to his LinkedIn profile. Earlier in his career, he held financial management roles at pet product retailer PetSmart.

Sprouts announced in August that it would be looking for a replacement for Molloy, who has held the CFO’s position since September 2021. Molloy took over the role from former CFO Denise Paulonis, who left the retailer to become CEO of hair products chain Sally Beauty Holdings after less than two years with Sprouts. Molloy served as Sprouts’ interim CFO from June 2019 to February 2020 and, like Valentine, formerly worked for PetSmart.

“I’ve worked with Curtis for a very long time at multiple retailers and am confident he will serve this company and its shareholders well for many years,” Molloy said on the grocer’s earnings call Tuesday morning.

Sprouts CEO Jack Sinclair told investors during the call that the grocer anticipates a “seamless transition.”