MIAMI — Regional pharmacy chain Navarro Discount Pharmacy, which currently has 29 stores, has named finance executive Juan Ortiz the company's CFO, to the position of CEO.
Ortiz succeeds CEO Steve Kaczynski, whose expertise in retail merchandising and marketing over the last 18 months has been instrumental in setting a strategic direction for the company and expanding its footprint in South Florida and nationally.
"Juan Ortiz and his team have worked diligently on [giving] Navarro¹s successful financial turnaround building a singular focus and working hand-in-hand with management and employees to execute an effective, long term plan," stated Jorge Rico, a co-founding partner of MBF Healthcare Partners, Navarro's equity partner. "In addition, Juan's leadership over the last three years laid the needed groundwork for the first phase of Navarro¹s three-year store expansion plan, now being implemented, as well as record sales and earnings in the company's 50-year history."
Kaczynski is credited with leading the company to year-over-year increases in sales and earnings and developing a new branding and revitalization program, which included its store expansion and e-commerce capabilities, as well as unveiling the Vida Mia brand, Navarro¹s own bilingual, private-label brand of Hispanic products.
Ortiz joined Navarro as its CFO in August 2008. He and his team stabilized sales and customer traffic, identified new revenue streams, increased profitability and reduced operating expenses by $10 million in a 24-month period, the company stated.