WHAT IT MEANS AND WHY IT'S IMPORTANT — The news that retail vet Andy Giancamilli is retiring in February after more than 40 years in the industry is obviously important news in its own right. However, the end of one storied retail career dovetails with the rise of another, which makes the news especially important.
(THE NEWS: Retail vet Giancamilli announces retirement; Scorpiniti to lead 1,800 Katz stores. For the full story, click here)
Frank Scorpiniti, long regarded as one of the bright young executives in retail pharmacy, now gets a chance to lead a progressive Canadian pharmacy chain, with a hot new format, a national presence under Rexall, and a slew of interesting programs like the Rexall Network.
Scorpiniti, who joined Katz Group in April as COO, will take the helm upon Giancamilli's retirement.
"Frank is a strategic thinker who has a passion for the retail pharmacy industry, and a proven ability to drive growth and performance within an organization," Giancamilli said of Scorpiniti when announcing his appointment to Katz Group in April.
With more than 20 years of retail pharmacy experience, Scorpiniti previously served as SVP pharmacy operations at Duane Reade, a post he had held since December 2008. At Duane Reade, the efforts on the back end in pharmacy, spearheaded by Scorpiniti and his team, resulted in a cost reduction for the company, better in-stocks for stores and less wait time for pharmacy customers.
Now, Scorpiniti inherits the innovative Canadian pharmacy retailer, which encompasses more than 1,800 chain, franchise and independent pharmacies across the country.
You can be certain that Giancamilli, who learned from his mentors long ago never to sacrifice integrity and honesty under any circumstances, wouldn't be stepping aside to pursue personal endeavors if he didn't truly believe that the company was in good hands.