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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
March
8, 2022
Rite Aid Corporation
(Exact name of registrant as specified in
its charter)
| Delaware |
|
1-5742 |
|
23-1614034 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification Number) |
30
Hunter Lane, Camp Hill, Pennsylvania
17011
(Address of principal executive offices,
including zip code)
(717)
761-2633
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
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):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which
registered |
| Common Stock, $1.00 par value |
RAD |
The New York Stock Exchange |
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
growth company ¨
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.
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