Rite Aid Corporation (NYSE:RAD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On April 10, 2019, each of Joseph B. Anderson and Michael N. Regan notified the Board of Directors (the Board) of Rite Aid Corporation (the Company) of his decision to resign from the Board effective as of April 10, 2019.
(d) On April 10, 2019, the Board appointed Elizabeth (Busy) Burr and Katherine (Kate) Quinn as members of the Board, effective as of April 10, 2019, to fill the vacancies created by Mr. Andersons and Mr. Regans resignations. Ms. Burrs and Ms. Quinns terms will expire at the Companys 2019 annual meeting of stockholders.
Ms. Burr most recently served as the chief innovation officer and vice president of healthcare trend and innovation at Humana where she was responsible for driving the design, build and adoption of new product platforms in digital health, provider experience, and telemedicine, to improve health outcomes, create superior member experiences, and improve health care costs. She also founded Humanas strategic investing practice, Humana Health Ventures. Prior to joining Humana in 2015, Burr was managing director of Citi Ventures and led large-scale business transformation efforts as the global head of Citis Business Incubation Function-DesignWorks. Earlier in her career, Burr spent seven years in investment banking at Morgan Stanley and Credit Suisse First Boston and previously served as vice president of global brand management at Gap, Inc. Burr holds an MBA from Stanford University and a bachelors degree in Economics from Smith College. Burr serves on the Boards of Mr. Cooper Group and Satellite Healthcare and is a member of the Smith College Business Network Advisory Council.
Ms. Quinn has served as vice chairman and chief administrative officer of U.S. Bancorp since April 2017 and is responsible for leading human resources, strategy and corporate affairs at the company. Quinn joined U.S. Bancorp in 2013 as executive vice president and chief strategy and reputation officer. Prior to joining U.S. Bancorp, Quinn most recently served as senior vice president and chief marketing officer at Anthem, a health benefits company, where she directed the companys marketing, customer communications, digital, customer experience and retail strategies. She previously served as Anthems vice president of corporate marketing. Earlier in her career, Quinn served as chief marketing and strategy officer at a division of The Hartford, following leadership roles in strategy and product development at CIGNA and PacifiCare Health Systems, respectively. Quinn earned an MBA from University of Phoenix and a bachelors degree from Hunter College. In addition to her role at U.S. Bancorp, Quinn presently serves as a member of the Board of Trustees for both Minnesota Public Radio, and Fraser, a non-profit organization serving children and adults with special needs.
Ms. Burr has been appointed to the Audit Committee and Ms. Quinn has been appointed to the Compensation Committee. Neither Ms. Burr nor Ms. Quinn was selected as a director to any arrangement or understanding with any other person. Neither Ms. Burr nor Ms. Quinn has been party to any reportable transactions with the Company to Item 404(a) of Regulation S-K. As non-employee directors, Ms. Burr and Ms. Quinn will each receive compensation in accordance with the Companys policies for compensating outside directors.
Item 7.01. Regulation FD Disclosure.
On April 15, 2019, the Company issued a press release announcing the matters described in Item 5.02. A copy of the Companys press release is being furnished as Exhibit 99.1 to this Form 8-K.
The information (including Exhibit 99.1) being furnished to this Item 7.01 Regulation FD Disclosure shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits.
RITE AID CORP Exhibit
EX-99.1 2 exh99_1.htm EXHIBIT 99.1 Exhibit 99.1 Press Release For Further Information Contact: INVESTORS: MEDIA: Byron Purcell Susan Henderson (717) 975-5809 (717) 730-7766 FOR IMMEDIATE RELEASE Rite Aid Appoints Elizabeth Burr and Katherine Quinn to Board of Directors Joseph B. Anderson,…
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About Rite Aid Corporation (NYSE:RAD)
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog. It sells brand and generic prescription drugs, as well as an assortment of front-end products, including health and beauty aids, personal care products, seasonal merchandise, and a private brand product line. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and numerous other everyday and convenience products. The Company’s Pharmacy Services segment consists of EnvisionRx, which provides a range of pharmacy benefit services.
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