Rite Aid CEO John Standley is out in a 'managerial' purge of 400 jobs
Rite Aid is much different than when Standley became CEO and is no longer a national pharmacy chain. Rite Aid operates 2,500 stores in 19 states, but most are concentrated in 7 states including California on the West Coast and Pennsylvania in the East Coast.
Rite Aid’s recent woes triggered a notice in January from the New York Stock Exchange that the drugstore chain is"no longer in compliance with NYSE continued listing standards.”
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