Rite Aid Corp. said Monday its board has named Elizabeth Burr, a former Humana Inc. executive, as interim chief executive, replacing Heyward Donigan, who is...
Rite Aid Corp. RAD, +0.29% said Monday its board has named Elizabeth Burr, a former Humana Inc. HUM, +0.93% executive, as interim chief executive, replacing Heyward Donigan, who is leaving the role. Burr was previously vice president, head of health ventures and chief innovation officer at Humana. She has been a director on the Rite Aid board since 2019.
The company has initiated a search for a permanent CEO and has retained a search firm. The company said it still expects fiscal 2023 revenue of $23.7 billion to $24.0 billion and a loss of $584 million to $551 million. However, it expects to generate positive free cash flow in the period. Shares were up 0.6% premarket, but are down 74% in the last 12 months, while the S&P 500 SPX, +2.28% has fallen 17%.
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