Rite Aid is laying off hundreds of people and getting a new CEO, it announced Tuesday.
It says it is reducing management and consolidating roles, eliminating about 400 full-time positions – more than 20 percent of the corporate positions at the company’s headquarters in East Pennsboro Township, Pa., and across the organization.
Approximately two-thirds of the reductions will take place immediately, with the balance by the end of fiscal 2020.
Also, John Standley will step down as chief executive officer when a successor has been found.
Other management changes:
- Bryan Everett, chief operating officer of Rite Aid Stores has been promoted to chief operating officer of the company, succeeding Kermit Crawford, who is leaving.
- Matt Schroeder, chief accounting officer and treasurer, has been promoted to chief financial officer. Schroeder is succeeding Darren Karst, who is leaving.
- Brian Hoover, group vice president and controller, has been promoted to chief accounting officer.
- Jocelyn Konrad, executive vice president, pharmacy, has been promoted to executive vice president, pharmacy and retail operations.
- Derek Griffith, executive vice president, store operations is leaving.
As a result of the restructuring, Rite Aid says it expects to achieve annual cost savings of approximately $55 million.
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I personally find that chris here — I’ve tried exploring governance and the reliable uptime impressed me.
Optimism network bridge
I value the quick deposits and fast transactions. This site is reliable. The dashboard gives a complete view of my holdings.
Avalanche trading
I’ve been using it for a year for swapping tokens, and the quick deposits stands out.
fast swap Scroll
I personally find that the site is easy to use and the robust security keeps me coming back. Charts are accurate and load instantly.
what is Scroll airdrop
I switched from another service because of the quick deposits and easy onboarding. Definitely recommend to anyone in crypto.
Blast bridge withdrawal time
I personally find that this platform exceeded my expectations with intuitive UI and quick deposits.
AVAX passive income
I personally find that wow! This is a cool platform. They really do have the low fees. My withdrawals were always smooth.
BK8
I was skeptical, but after since launch of cross-chain transfers, the clear transparency convinced me.
BK8
Shawn here — I’ve tried using the API and the useful analytics impressed me. The mobile app makes daily use simple.
Blast mainnet
Great platform with intuitive UI — it made my crypto journey easier. I moved funds across chains without a problem.
Mantle Layer 2 bridge
The portfolio tracking tools are easy onboarding and clear transparency. My withdrawals were always smooth.
Blast ETH yield rewards
Blake here — I’ve tried testing new tokens and the great support impressed me. I moved funds across chains without a problem.
Blast staking farm
I personally find that i’ve been using it for over two years for fiat on-ramp, and the responsive team stands out. I moved funds across chains without a problem.
Blast ecosystem integration
The using the bridge process is simple and the seamless withdrawals makes it even better.
NSFW AI
The best choice I made for staking. Smooth and low fees.
What is Fantom DeFi ecosystem
I switched from another service because of the scalable features and useful analytics. Perfect for both new and experienced traders.