Lawrence “Chip” Molloy
About Lawrence “Chip” Molloy
Independent Class I director appointed June 26, 2025; serves on GO’s Audit and Risk Committee and has been determined by the Board to be independent and an “audit committee financial expert.” Education: MBA, University of Virginia; BS, Computer Science, U.S. Naval Academy; former U.S. Navy fighter pilot (retired as Commander). Tenure at GO: term expiring at the 2026 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Sprouts Farmers Market (NASDAQ: SFM) | Chief Financial Officer | Sept 2021 – Dec 2023 | Senior financial leadership at a growth grocer; enhanced reporting and controls. |
| Sprouts Farmers Market | Interim Chief Financial Officer | Jun 2019 – Feb 2020 | Transition leadership; maintained financial continuity. |
| Under Armour (NYSE: UA) | Chief Financial Officer | Jan 19, 2016 – Feb 2017 | Rapid-growth apparel; departure noted by UA 8-K as “personal reasons.” |
| PetSmart LLC | Executive VP & Chief Financial Officer | 2007 – 2013 | Named Institutional Investor’s CFO of the Year for Specialty Retail (2011). |
| Torrid Holdings (NYSE: CURV) | Interim Chief Executive Officer | Not disclosed in GO filings | Retail leadership through transition; board-qualified operator. |
External Roles
| Company | Exchange/Ticker | Role | Committee Roles |
|---|---|---|---|
| Sally Beauty Holdings, Inc. | NYSE: SBH | Director | Has served as Audit Committee Chair on boards he’s served. |
| Pet Valu Holdings Ltd. | TSX: PET.TO | Director | Has served as Audit Committee Chair on boards he’s served. |
| BRC Inc. (Black Rifle Coffee Company) | NYSE: BRCC | Director | Has served as Audit Committee Chair on boards he’s served. |
| Prior: Sprouts Farmers Market, Torrid, Party City, Wingstop | Various | Former Director | Tenured public company board experience; audit chair roles. |
Board Governance
- Committee assignments: Audit and Risk Committee member; Board determined he satisfies Nasdaq and SEC requirements to serve (including independence and audit committee financial expert status).
- Independence: Board determined Molloy is independent; GO’s committees are fully independent.
- Indemnification & conflicts: Party to standard director indemnification agreement; Board disclosed no related-party transactions requiring Item 404(a) disclosure.
- Attendance: GO reported during FY2024 the Board held 6 meetings, Audit & Risk 10, Compensation 6, Nominating & Governance 4; each current director attended at least 75% of applicable meetings (Molloy joined after FY2024).
- Governance practices: Lead Independent Director role with significant responsibilities; no hedging or pledging; majority voting; committee oversight of risk and ESG.
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer – Non‑employee director | $75,000 | Earned quarterly. |
| Chairman additional retainer | $150,000 | Applies to Board Chair (not Molloy). |
| Lead Independent Director additional retainer | $50,000 | Applies to Lead Independent Director (not Molloy). |
| Audit & Risk Committee – Chair | $25,000 | Committee chair fee. |
| Audit & Risk Committee – Member | $15,000 | Committee member fee. |
| Compensation Committee – Chair | $25,000 | Committee chair fee. |
| Compensation Committee – Member | $10,000 | Committee member fee. |
| Nominating & Corporate Governance – Chair | $20,000 | Committee chair fee. |
| Nominating & Corporate Governance – Member | $10,000 | Committee member fee. |
- Molloy will receive compensation in accordance with GO’s non‑employee director compensation policy.
Performance Compensation
| Equity Component | Grant Value | Vesting | Change‑in‑Control |
|---|---|---|---|
| Annual RSU grant (non‑employee directors) | $150,000 | Vests fully after 12 months from grant or at the prior annual meeting anniversary. | Vests in full upon change in control. |
- Director RSUs are time‑based; no director PSUs or performance metrics apply.
- Directors may elect to defer cash and/or RSU settlement into DSUs under the Directors Deferral Plan (settlement timing flexible, incl. on departure or change in control).
Other Directorships & Interlocks
- Current public boards: Sally Beauty Holdings (SBH), Pet Valu (PET.TO), BRC Inc. (BRCC). GO disclosed no related‑party transactions for Molloy and no Item 404(a) transactions.
- GO policy indicates “No director overboarding under our policy” as a governance principle; Board confirmed new additions meet requirements.
Expertise & Qualifications
- Deep financial leadership across high‑growth retail and grocery; 25+ years in financial, accounting, reporting, enterprise risk, and global matters.
- Extensive audit committee experience; has served as Audit Committee Chair on six public company boards since 2013; designated audit committee financial expert at GO.
- Operational credibility from CFO roles (Sprouts, Under Armour, PetSmart) and interim CEO experience (Torrid).
- Leadership training and discipline from prior service as U.S. Navy fighter pilot; MBA (UVA), BS Computer Science (USNA).
Equity Ownership
- Director stock ownership guidelines: Expected to hold equity equal to 5x annual director cash retainer ($375,000 baseline), with 5‑year initial compliance period; directors must hold 50% of net shares until guidelines are met.
- As of Dec 28, 2024, all non‑employee directors in service were either compliant or within the compliance period and making appropriate progress (Molloy joined in 2025; compliance status not yet applicable).
- No hedging or pledging permitted under governance principles.
- Deferral Plan allows conversion of fees/RSU settlement into DSUs to align long‑term ownership.
Governance Assessment
- Board effectiveness: Molloy bolsters financial oversight and ERM depth as an audit committee financial expert; his grocery CFO experience (Sprouts) is directly relevant to GO’s operating model and ERP execution reset.
- Independence and conflicts: Explicitly determined independent; no related‑party transactions; standard indemnification only—supports investor confidence.
- Compensation alignment: Director pay mix emphasizes time‑vesting equity ($150k RSUs) plus modest committee retainers, with strong ownership guidelines and no hedging/pledging—aligned with long‑term governance norms.
- Potential red flags to monitor: Under Armour CFO departure cited as “personal reasons” in 2017; no SEC findings disclosed, but abrupt executive exits can be scrutinized—no specific issues tied to Molloy were disclosed in GO filings.
- Overall signal: Net positive addition—financial rigor and audit leadership combined with multi‑company board experience, with clear independence and alignment policies in place.