CAMP HILL, Pa. — Fresh off its third consecutive profitable quarter, Rite Aid has appointed Ken Martindale as president and COO, the retail pharmacy chain said Monday.
Martindale, who is currently SVP and COO, as well as president of the Rite Aid Foundation, will assume the new position effective immediately. John Standley will continue as chairman and CEO.
In August, Martindale will be featured as a speaker at a special event sponsored by the Mack Elevation Forum and Drug Store News Group at the Total Store Expo in Las Vegas, delivering a presentation that focuses on how attendees can reimagine and reinvent their businesses. Martindale's leadership has been a key part of Rite Aid's transformation, particularly the Wellness+ loyalty card program and the Wellness store format.
"Since becoming our COO in 2010, Ken has continued to play a significant role in helping the company improve its overall performance and return to profitability," Standley said. "Ken's appointment as president and COO is an opportunity for Rite Aid to further leverage his exceptional leadership skills, broad operating experience and strategic capabilities as we continue to focus on successfully growing our business."
Rite Aid announced last week its third consecutive profitable quarter, as well as the launch of the largest extension to its Wellness+ loyalty card program, Wellness65+.
Martindale, who has worked in retailing for more than 35 years, previously worked as co-president and chief merchandising and marketing officer for Pathmark Stores before starting at Rite Aid as senior EVP merchandising, marketing and logistics, in December 2008.