PHILADELPHIA — Rite Aid Corp. announced Monday that its board of directors has appointed Elizabeth (“Busy”) Burr, a member of the company’s board, as interim CEO, effective immediately. Burr’s appointment follows Heyward Donigan’s departure from the company as president and CEO, and as a member of the board. Rite Aid has initiated a search to
CAMP HILL, Pa. — Rite Aid Corp. on Thursday reported fourth quarter earnings results that fell below Wall Street’s expectations. The drug chain also provided a forecast for the upcoming fiscal year. For the fourth quarter, the company reported net loss from continuing operations of $255.6 million, or 24 cents per share, adjusted net loss
CAMP HILL, PA – Rite Aid Corp. announced Tuesday a leadership transition plan and an organizational restructuring to better align its structure with the company’s operations and to reduce costs. As part of the leadership transition, John Standley will step down as chief executive officer. The Board will promptly commence a search process for a
CAMP HILL, Pa.— Rite Aid Corp. announced that Ben Bulkley, an established executive with more than 20 years’ experience in health care and technology, has been named chief executive officer of EnvisionRxOptions, a pharmacy benefit management (PBM) company and wholly owned subsidiary of Rite Aid. Bulkley will report to Rite Aid CEO John Standley. Bulkley
CAMP HILL, Pa. – Rite Aid Corp. and GNC announced Monday an agreement which extends their partnership through 2022. Rite Aid and GNC have had an exclusive partnership in the chain drug channel since December 1998. “Our more than 20-year partnership with GNC has provided Rite Aid with a key point of differentiation in the
CAMP HILL, Pa. — Rite Aid Corp. on Tuesday appointed Justin Mennen as senior vice president and chief information officer. Mennen, a seasoned technology and digital leader with more than 20 years of technology leadership experience, will be responsible for all aspects of the company’s technology and information operations, including enterprise systems and applications, network,
CAMP HILL, Pa. — Rite Aid Corp. named Bruce Bodaken chairman during the 2018 annual stockholders meeting on Tuesday. He assumed the role from John Standley, who will remain chief executive officer and a member of the board. Based on preliminary results from the meeting: Stockholders voted in favor of all of the company’s nominees to the
CAMP HILL, Pa. — In the wake of their canceled merger agreement, Albertsons Cos. and Rite Aid Corp. confront very different challenges as they face the future. Albertsons’ board of directors declined to change the terms of its offer to Rite Aid shareholders in the face of mounting opposition from shareholder advisory services and major
CAMP HILL, Pa. – Rite Aid Corp. announced that it has mutually agreed with Albertsons Cos. to terminate their previously announced merger agreement. “While we believed in the merits of the combination with Albertsons, we have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as
CAMP HILL, Pa. – Rite Aid Corp. has sent a letter to shareholders in connection with its proposed merger with Albertsons Cos. The letter answers certain frequently asked questions from investors and outlines key reasons the Rite Aid board and management team believe the proposed merger is in the best interest of shareholders, and highlights
CAMP HILL, Pa. — Ahead of the August 9 shareholders vote on the proposed merger with Albertsons Cos., Rite Aid Corp. reported operating results for its first fiscal quarter ended June 2. For the first quarter, the company reported net loss from continuing operations of $41.7 million, or $0.04 per share, Adjusted net loss from
BOISE, Idaho — Albertsons Cos. and Rite Aid Corp. on Tuesday hosted a joint analyst event to discuss the strategic and financial benefits of the proposed merger transaction between the two companies, which will be called Albertsons Inc. once the deal is finalized following a shareholders vote. Announced in late February, the merger will join