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Rite Aid’s CEO, COO, and CFO Leaving Amid Major Shakeup

Rite Aid stores
Photo Credit: Mike Mozart via Flickr cc

There are about to be some major changes at Rite Aid. The drugstore retailer announced that its CEO, John Standley, is stepping down as soon as a successor can be found. Kermit Crawford, however, is leaving as COO effective immediately and will be replaced by the COO of Rite Aid Stores, Bryan Everett. And Darren Karst is leaving this spring and will be replaced by the current chief accounting officer and treasurer Matt Schroeder.

In addition, Rite Aid said it is reducing management layers and consolidating roles across the organization, resulting in the elimination of approximately 400 full-time positions, or more than 20% of the corporate positions located at the company’s headquarters and across the field organization.

Read more at Chain Store Age.