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Rite Aid CEO departs
Rite Aid has named Elizabeth “Busy” Burr as interim CEO, effective immediately, after the sudden departure of CEO and President Heyward Donigan, who resigned.
Rite Aid, which operates more than 2,300 retail pharmacy locations in 17 states, has initiated a permanent CEO and retained a leading executive search firm.
“As the Company continues its efforts to enhance its competitive position in this dynamic environment, the Board determined and Heyward agreed that now is the right time to identify the next leader of the business,” Bruce Bodaken, Rite Aid chairman, said in a statement. “With a deep understanding of the industry and our strategy, the Board was unanimous in its belief that Busy is highly qualified to serve as interim CEO while the Board conducts a search for a permanent successor.”
Burr previously served as vice president, head of health ventures and chief innovation officer at Humana. She also most recently served as president and chief commercial officer at Carrot, Inc. She also formerly served as managing director of Citi Ventures and global head of business incubation of Citigroup, as well as entrepreneur-in-residence at eBay.
Rite Aid did not publish a reason for Donigan’s departure.
“It has been a privilege to lead Rite Aid and its exceptional team,” Donigan said. “I am proud of all that we have achieved together, and I believe that the company is well positioned for the future.”
At the same time, Rite Aid also announced it reaffirmed its 2023 guidance for total revenues between $23.7 billion and $24.0 billion, net loss between $584 million and $551 million.