Rite Aid has named John T. Standley, 46, president and chief executive officer, effective June 24. Mary Sammons, 63, the drugstore chain’s chairman and ceo, will stay on board as chairman until June 2012.
Standley is Rite Aid’s president and chief operating officer and has been with the company in that position since September 2008. He was previously ceo and board director of grocery chain Pathmark Stores Inc.
Before joining Pathmark in August 2005, Standley had been with Rite Aid. He was executive vice president and chief financial officer beginning in December 1999 as part of a new executive management team that also included Sammons, Rite Aid noted.
“When I asked John to return to Rite Aid, I knew he would move swiftly to improve our company’s operations,” stated Sammons. “As president and chief operating officer, he’s helped us manage through this recession and set in motion initiatives to grow our company for the future.”
Prior to joining Rite Aid in 1999, he worked in key executive financial positions at various retail and grocery companies including Fleming Inc., Fred Meyer Inc., Ralph’s Grocery and Smith Food & Drug Centers, stated Rite Aid.