Rite Aid Corp. (RAD: Quote) Friday said its Board has elected President, CEO John Standley as Chairman of the Board, effective June 21. Standley will succeed Mary Sammons, who has served as Chairman since June, 2007, and whose term of service as Chairman, concludes as of the June annual meeting.
Sammons said, "With the Company's strong progress under John's leadership, the Board believes the time is right to recombine the roles of Chairman and CEO and that this unified structure will provide decisive and effective leadership both within and outside the company."
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by RTT Staff Writer
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