Headlines

Rite Aid Adds Panzer Division

Former Albertson's marketing exec becomes drug chain's evp of stores

Published

23 years ago

June 29, 2001

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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.

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