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Wednesday, June 23, 2010

Rite Aid's new CEO takes over

Rite Aid's new CEO takes over and hears an earful at shareholder meeting in Harrisburg

SHARON SMITH, The Patriot-News

It’s official: John T. Standley took over as president and CEO of East Pennsboro Twp.’s Rite Aid following a two-hour annual shareholders’ meeting at the Harrisburg Hilton today. Standley has a difficult job ahead of him as union employees from California and Pennsylvania gathered outside the Hilton to protest the company’s relationship with employees.

Inside the Hilton, angry shareholders took management, including outgoing CEO Mary Sammons, to task for more than two hours for the company’s performance during the last several years. Sammons will remain as the company’s chairman of the board for the next two years. More...

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