Rite Aid Adds Panzer Division

Rite Aid Corp. (Camp Hill, Pa.) has named Mark Panzer executive vp of store operations. He was previously vp of marketing and sales at Albertson's, the giant Boise, Idaho-based supermarket chain (Number 2 in the country behind Kroger). He will report directly to president and coo Mary Sammons.

Rite Aid, Rite, the nation's Number 3 drugstore chain (behind Walgreen and CVS) – 3800 stores in 30 states — has been troubled recently by slowing profits and some accounting glitches. It also announced that it has completed $3 billion in debt refinancing. It will reclassify roughly $850 million of capitalized leases to operating leases.