Rite Aid Eliminates COO Position

(RTTNews) - Drugstore chain, Rite Aid Corporation (RAD), said on Tuesday that it has eliminated the post of Chief Operating Officer or COO, as part of its move to realign its leadership team, to reduce costs.

Consequently, the company's COO Jim Peters, left the company.

Rite Aid appointed its current Senior Vice President, Clinical Pharmacy Services, Karen Staniforth, as Chief Pharmacy Officer or CPO to replace Jocelyn Konrad, Executive Vice President and CPO.

Heyward Donigan, Rite Aid's CEO, said: "The changes we announced today are part of our ongoing efforts to reduce costs and remove layers."