Can Rite Aid save itself with this restructuring? [MSN Money]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: MSN Money
Can Rite Aid save itself with this restructuring? © Provided by /7 Wall Street, LLC Rite Aid Corp. (RAD) announced on Wednday morning that there will be some chang in its executive leadership as well as some rtructuring. At this point, invtors are welcoming anything to pull this stock out of the tailspin it has expericed over the past two years. Load Error Excluding Wednday’s move, Rite Aid had underperformed the broad markets, with its stock down about % year to date. However, the charts get worse over the past weeks, with the stock down about 6%. As far back as January 07, this was an $8 stock. As part of the leadership transition, John Standley will step down as chief executive officer. The board of directors will promptly commce a search procs for a new CEO, and Standley will remain in the position until the appointmt of his succsor. Rite Aid also announced additional managemt chang, each of which is effective immediately: Bryan Everett, chief operating officer of Rite Aid Stor h
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