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Ken Martindale Promoted to Chief Operating Officer at Rite Aid

^{Published on 2010-06-24 05:36:19 - Market Wire}
 

CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE:RAD) announced today that Ken Martindale, formerly Senior Executive Vice President of Merchandising, Marketing and Logistics, has been promoted to Chief Operating Officer. He assumes the position from John Standley, who, as previously announced, was promoted from President and Chief Operating Officer to President and Chief Executive Officer following the companya™s annual meeting on June 23.

"Add to that his first hand experience in store operations during his extensive retail career, and Rite Aid has a very talented and accomplished new COO."

The promotion of Martindale, who continues to report to Standley, is effective immediately. In his new position, he will have overall responsibility for all store operations as well as category management, marketing, merchandising and supply chain.

Martindale, 50, is a retail veteran with 35 years of diverse operations, marketing and merchandising experience. Before joining Rite Aid in December 2008, he served as Co-President, Chief Merchandising and Marketing Officer for Pathmark Stores Inc., a $4.0 billion regional supermarket chain with a strong pharmacy business. He served there until December 2007 when the company was sold to the Great Atlantic & Pacific Tea Company (A&P).

aIn a very short time, Ken has had a significant impact on a number of the initiatives wea™re implementing to improve our performance and grow profitable sales, including the launch of our new customer loyalty program wellness+, the revamping and expansion of our private brand program and our segmentation strategies for low volume stores,a Standley said. aAdd to that his first hand experience in store operations during his extensive retail career, and Rite Aid has a very talented and accomplished new COO.a

Martindale started his retail career in 1975 with Smitha™s Food and Drug Centers, a west coast food and drug chain, where he rose from a district manager in store operations to Senior Vice President of Marketing and Senior Vice President of Sales and Merchandising. In January 1998, he joined Fred Meyer, Inc., a $15 billion food, drug and general merchandise retailer, after it bought Smitha™s. He served as Executive Vice President, Sales and Procurement for Fred Meyer until September 1999 after the companya™s merger with the Kroger Company.

During his retail career, Martindale also founded and operated Orchard Street, Inc. a food retailer in Salt Lake City; consulted for national and regional food retailers on category management, marketing and strategic planning; and served as President, CEO and Chairman of Intesource, Inc., a software company designed to help food and drug retail, wholesale and manufacturing clients with procurement.

Rite Aid is one of the nationa™s leading drugstore chains with nearly 4,800 stores in 31 states and the District of Columbia with fiscal 2010 annual revenues of $25.7 billion. Information about Rite Aid, including corporate background and press releases, is available through Rite Aida™s Web site at[ www.riteaid.com ].