September 26, 2008

Rite Aid Announces Senior Management Appointments

US-based retailer and pharmacist Rite Aid has announced that John Standley will return to the company as president and COO; and has appointed Frank Vitrano to the combined role of CFO and chief administrative officer.

Both the newly appointed executives have previously worked at Pathmark Stores, a regional supermarket chain with pharmacy business, where Mr Standley was CEO and board director from 2005 through 2007; and Mr Vitrano most recently served as president, CFO and treasurer from 2002 through 2007.

Mr Standley and Mr Vitrano will report directly to Mary Sammons, Rite Aid's chairman and CEO. The appointments are effective immediately. The outgoing CFO, Kevin Twomey, and the outgoing chief administrative officer, Pierre Legault, are both leaving Rite Aid to pursue other opportunities.

Ms Sammons said: "This is the right time for these changes as Rite Aid focuses on delivering strong value for shareholders, suppliers, customers and associates in a challenging business environment. With the integration of Brooks Eckerd behind us and same store sales in the acquired stores continuing to trend upward, the key task before us is to drive profitable growth."