Rite Aid Corp. said Monday it named Heyward Donigan as its chief executive officer, effective immediately. The drugstore chain said Donigan replaces John Standley, who steps down as planned after nine years in the role. Donigan was most recently CEO of Sapphire Digital, which develops omnichannel platforms that help consumers choose their best healthcare providers. "Over the past several months the Rite Aid Board conducted a thorough search, and Heyward's strong senior executive experience, proven leadership capabilities and consistent track record of driving profitable growth, as well as her broad healthcare knowledge and digital shopping technology expertise set her apart," said Chairman Bruce Bodaken. The stock, which was still inactive in premarket trading, has tumbled 49.2% year to date, while the S&P 500 has climbed 16.4%.
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