Rite Aid Names Elizabeth Burr As Interim CEO; Reaffirms FY23 Outlook

(RTTNews) - Rite Aid Corp. (RAD) announced Monday that its Board of Directors has appointed Elizabeth Burr, a member of the Company's Board, as interim CEO, effective immediately. Burr's appointment follows Heyward Donigan's departure from the Company as President and CEO, and as a member of the Board.

Rite Aid has initiated a search to identify a permanent CEO and has retained a leading executive search firm.

Burr has extensive experience in the health industry. She previously served as Vice President, Head of Health Ventures and Chief Innovation Officer at health insurance company Humana. Most recently, Burr served as President and Chief Commercial Officer at Carrot Inc.

Burr previously served as Managing Director of Citi Ventures and Global Head of Business Incubation of Citigroup Inc. as well as Entrepreneur-in-Residence at eBay Inc. She has also held various senior leadership roles at Credit Suisse Group AG and Gap Inc., where she served as Vice President of Global Brand Management.

Rite Aid also reaffirms its fiscal year 2023 guidance for total revenues between $23.7 billion and $24.0 billion, net loss between $584 million and $551 million, Adjusted EBITDA between $410 million and $440 million and capital expenditures of approximately $225 million.