UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 8, 2022, Rite Aid Corporation (the “Company”) announced steps to streamline its management team, including the elimination of the Rite Aid Chief Operating Officer position and consolidation of its pharmacy leadership. As a result, James Peters, the current Chief Operating Officer of the Company ceased to be employed by the Company effective March 7, 2022. In addition, Jocelyn Konrad, the current Executive Vice President and Chief Pharmacy Officer of the Company, ceased to be employed by the Company effective March 7, 2022.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. | Exhibit | |
99.1 | Press Release dated March 8, 2022 | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
Date: March 8, 2022 | By: | /s/ Matthew C. Schroeder |
Name: | Matthew C. Schroeder | |
Title: | Executive Vice President and Chief Financial Officer |
***
Exhibit 99.1
RITE AID CORPORATION REALIGNS MANAGEMENT TO STREAMLINE OPERATIONS
PHILADELPHIA – March 8, 2022 – Rite Aid Corporation (NYSE: RAD) today announced steps to realign its management team and streamline the company’s operations, including the elimination of the Rite Aid Chief Operating Officer (COO) position and consolidation of its pharmacy leadership. As a result, Jim Peters, COO, and Jocelyn Konrad, Executive Vice President and Chief Pharmacy Officer, have left the company.
Karen Staniforth, Senior Vice President, Clinical Pharmacy Services, will take on the title of Chief Pharmacy Officer, which going forward will be focused specifically on centralized pharmacy operations in addition to her current responsibilities. Andre Persaud, Executive Vice President and Chief Retail Officer, will take over field operations for pharmacy as well as oversight of front-end operations. Staniforth, Persaud and Erik Keptner, Senior Vice President and Chief Marketing and Merchandising Officer, will report directly to Heyward Donigan, Rite Aid’s President and CEO. In addition, Justin Mennen, Executive Vice President and CIO, will expand his responsibilities to include leadership of all digital and ecommerce and his new title is Chief Digital and Technology Officer.
“The changes we announced today are part of our ongoing efforts to reduce costs and remove layers,” said Ms. Donigan. “Karen, Andre, Erik and Justin have been instrumental in bringing our full suite of retail products and pharmacy services to our customers, and I look forward to working directly with them as we execute on our omni-pharmacy strategy.”
Ms. Donigan continued, “I also want to thank Jim and Jocy for their many contributions and wish them well in their future endeavors.”
About Rite Aid Corporation
As the trusted, everyday care connector, Rite Aid drives lower health care costs through better coordination, stronger engagement, and personalized services that help you achieve whole health for life. We provide an array of whole being health products and services for the entire family through over 2,450 retail pharmacy locations across 17 states. Through Elixir, we provide pharmacy benefits and services to millions of members nationwide. For more information, www.riteaid.com.
###
Investor contact:
Byron Purcell
(717) 975-3710
investor@riteaid.com
Media contact:
Terri Hickey
(773) 655-3035
press@riteaid.com
Cover |
Mar. 08, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 08, 2022 |
Entity File Number | 1-5742 |
Entity Registrant Name | Rite Aid Corporation |
Entity Central Index Key | 0000084129 |
Entity Tax Identification Number | 23-1614034 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 30 Hunter Lane |
Entity Address, City or Town | Camp Hill |
Entity Address, State or Province | PA |
Entity Address, Postal Zip Code | 17011 |
City Area Code | 717 |
Local Phone Number | 761-2633 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $1.00 par value |
Trading Symbol | RAD |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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