Plus   Neg

Rite Aid Names Heyward Donigan CEO - Quick Facts

Rite Aid Corp. (RAD) said Monday its board of directors has appointed Heyward Donigan as chief executive officer and a member of the Board, with immediate effect. John Standley will step down from his role as chief executive officer as planned.

Donigan has 30 years of experience in all aspects of the healthcare industry. She served as the president and CEO of Sapphire Digital, formerly Vitals, a developer of omnichannel platforms that help consumers choose their best fit healthcare providers.

Prior to Sapphire Digital, Donigan was president and CEO of ValueOptions, an independent behavioral health improvement company. Previously, Donigan served as executive vice president & chief marketing officer at Premera Blue Cross.

Rite Aid said that in accordance with New York Stock Exchange Rules, Donigan will be granted an employment inducement award. This will consist of a restricted stock award with a grant date fair value equal to $2,000,000, and non-qualified stock options with a grant date fair value equal to $2,000,000.

The restricted stock award will vest in equal annual installments on each of the three successive anniversaries of Donigan's commencement date, while the non-qualified stock options will vest and become exercisable in equal installments on each of the four successive anniversaries of her commencement dates.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Libra Association, formed by major financial partners of Facebook's Libra cryptocurrency project, formalized the association at the inaugural Libra Council meeting of the members at its headquarters in Geneva, Switzerland. The current 21 member organizations formally signed onto the Libra Association charter, elected the Board of Directors, and appointed the executive team. Department store chain Kohl's Corp. has unveiled its Kohl's Cares holiday collection that includes the Disney Frozen 2 and Holiday Character bundles. The company's philanthropic program, Kohl's Cares, sells children's books as well as toys and donates the entire profit to charitable initiatives nationwide. Children's Place Inc. (PLCE) said that it will relaunch the Gymboree brand in the U.S. and Canada in early 2020. The brand will be relaunched in Gymboree website, and in shop-in-shop locations in more than 200 Children's Place stores in the U.S. and Canada.
Follow RTT