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David R. Jessick Appointed to Rite Aid Board Of Directors
Rite Aid Director George G. Golleher Resigns
CAMP HILL, PA (April 15, 2009) - The Board of Directors of Rite Aid Corporation (NYSE: RAD) today announced the appointment of David R. Jessick to the Board. Mr. Jessick's term will expire at the company's annual meeting in June 2010, at which time he is expected to stand for re-election.
Mr. Jessick will fill the seat on the 14-member Board vacated by George G. Golleher, who was elected in 2007 for a three-year term and has resigned. Mr. Golleher has served on the Board since 2002.
"George Golleher has been a hard-working member of our Board for the past seven years, and we thank him for the many contributions he has made to our company," said Mary Sammons, Rite Aid chairman and CEO. "At the same time, we welcome Dave Jessick as a valuable addition, especially with his retail background and in-depth knowledge of Rite Aid."
Mr. Jessick, 55, currently an independent investor, served Rite Aid as Senior Executive Vice President, Chief Administrative Officer from December 1999 to July 2002. He then served as a consultant to Rite Aid's CEO and senior management from July 2002 until February 2005.
His more than 30 years of retail experience includes serving as Chief Financial Officer and Executive Vice President, Finance and Investor Relations of Fred Meyer, Inc., a major northwest food and drug retailer, from January 1997 to July 1999. Prior to joining Fred Meyer, he spent 17 years with Thrifty Payless Holdings, Inc., a 1,000-store west coast drugstore chain, where he was Executive Vice President and CFO when Rite Aid acquired the company in 1996. Mr. Jessick also served as non-executive Chairman of the Board of Pathmark Stores, Inc., a northeast regional supermarket chain with a strong pharmacy business, from August 2005 until December 2007.
Mr. Jessick began his career as a Certified Public Accountant. He received a Bachelor of Business Administration degree in Accounting from Boise State University in Boise, Idaho.
Rite Aid Corporation is one of the nation's leading drugstore chains with nearly 4,900 stores in 31 states and the District of Columbia with fiscal 2009 annual sales of $26.3 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at http://www.riteaid.com.
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Contact:
Investors:717-975-3710, Frank Vitrano 717-972-3948 or investor@riteaid.com
Media:Karen Rugen 717-730-7766
