Rite Aid Corporation Announces Leadership Changes

CAMP HILL, Pa. (Sept. 6, 2017)-Rite Aid Corporation (NYSE:RAD) has announced that President of Rite Aid Corporation and CEO of Rite Aid stores Ken Martindale, will leave Rite Aid, effective immediately, in order to assume a leadership position at another company. Rite Aid also announced it has promoted Bryan Everett, currently executive vice president in charge of store operations, to the newly created position of chief operating officer of Rite Aid stores.

In this position, Everett will be responsible for the company's store operations, merchandising, distribution and logistics. Everett will report to Rite Aid's Chairman and CEO John Standley.

"Since joining Rite Aid two years ago, Bryan has had a significant, positive impact on Rite Aid's store operations as well as in other areas of our business," said Rite Aid's Chairman and CEO John Standley. "His exceptional leadership skills, strong industry knowledge and his proven track record of operational expertise and success make him the right person to lead key areas of our organization during this important time as we move forward to drive our business, create a great customer experience and deliver value for our stakeholders."

"We also wish to thank Ken for his significant contributions to our company since joining Rite Aid in 2008," Standley added. We have all benefitted from the opportunity to have worked with Ken and we wish him the very best in his future endeavors."

Everett is an accomplished leader with more than 20 years of experience in store operations. He joined Target Corporation in 2002, where he held various store operations positions of increasing responsibility. While at Target, he most recently served as senior vice president of store operations. In this role, he focused on talent management, operational efficiency and integrated technology solutions. In addition, he led new format, new store and remodeling programs while also overseeing pharmacy and clinic operations. Before joining Target, Everett also held store operations management positions at Fleming Wholesale and ALDI Inc.

Rite Aid Corporation is one of the nation's leading drugstore chains with more than 4,500 stores in 31 states and the District of Columbia and fiscal 2017 annual revenues of $32.8 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.