Stocks & Investing
Stocks and Investing
Stocks and Investing
Mon, May 23, 2011 David Kelly Joins Rite Aid as Group Vice President of Construction
CAMP HILL, Pa.--([ BUSINESS WIRE ])--Rite Aid Corporation (NYSE: RAD) announced today that David Kelly, a development and real estate veteran with over 25 years experience, is joining Rite Aid as Group Vice President of Construction. His appointment is effective May 31.
"His proven ability and experience with a diverse portfolio of retail projects will be a valuable asset to the company, especially as we continue to implement and grow our segmentation strategies."
As Group Vice President of Construction, Kelly will have overall responsibility for all store planning and construction services. He will also play a key role in the companya™s various segmentation initiatives which include wellness stores, value stores and co-branded Save-A-Lot Rite Aid stores.Kelly will report directly to Frank Vitrano, Rite Aid Senior Executive Vice President, Chief Financial Officer and Chief Administrative Officer.
Most recently, Kelly, 46, served as Senior Vice President of Real Estate and Development for the Great Atlantic & Pacific Tea Company (A&P), an $8 billion supermarket chain.
aDavid brings over 25 years of vast development and real estate expertise to Rite Aid,a said Vitrano. aHis proven ability and experience with a diverse portfolio of retail projects will be a valuable asset to the company, especially as we continue to implement and grow our segmentation strategies.a
Kelly began his retail career as a Construction Project Manager in 1987 at Pathmark Stores, Inc., a $4 billion regional supermarket chain with a strong pharmacy business. At Pathmark, he held a variety of positions of increasing responsibility including Purchasing Manager, Director of Purchasing and Maintenance and Vice President of Engineering and Construction. In 2003, he was named Senior Vice President of Engineering and Construction, a position he held until the company was sold to A&P in December 2007.
Kelly is a graduate of Lehigh University and holds a Masters degree in Business Administration in Finance from Rutgers University.
Rite Aid is one of the nationa™s leading drugstore chains with more than 4,700 stores in 31 states and the District of Columbia with fiscal 2011 annual revenues of $25.2 billion.Information about Rite Aid, including corporate background and press releases, is available through Rite Aida™s website at [ www.riteaid.com ].
