Rite Aid Corporation (NYSE: RAD) is a drug store company with a market capitalization of more than $8 billion. Since its humble beginnings as a small drug store that opened in 1962 in Scranton, Pennsylvania, Rite Aid has grown to be one of the leading U.S. companies in the drug stores industry with over 4,500 stores in 31 states. Rite Aid sells prescription drugs and front-end products, such as over-the-counter medication, beauty aids, personal items, and food and beverages. Rite Aid's top five major direct shareholders include its chief executive officer (CEO), president, chief strategic business development officer, corporate counsel and its chief financial officer.

On June 29, 2017, the merger between Rite Aid and rival Walgreens Boots Rg (WBA) was scrapped due to difficulty of winning antitrust approval. Rite Aid stocks plunged 27% in premarket trading, while Walgreens was down about 5%. Instead of merging, Walgreens will buy about half of Rite Aid stores for $5.18 billion in cash. (For more, see: Walgreens Scraps Rite Aid Deal, to Buy Some Stores Instead)

1. John T. Standley

John T. Standley is Rite Aid's largest major direct shareholder with approximately 2.7 million shares. Standley serves as the chairman and CEO of Rite Aid, having held that position since 2010. Prior to serving as the CEO of Rite Aid, Standley held various roles in the company, such as chief operating officer (COO) and president. Standley is a graduate of Pepperdine University and has over 20 years of financial, executive and retail experience. 

2. Kenneth Martindale

Kenneth Martindale is the CEO of Rite Aid Stores and the president of Rite Aid Corporation. Martindale joined Rite Aid Corporation in December 2008 and became the senior executive vice president of merchandising, marketing and logistics. Thereafter, Martindale assumed the role of senior executive vice president and COO in 2013. Additionally, Martindale served as chief merchandising and marketing officer and co-president of Pathmark Stores Inc. prior to joining Rite Aid. Kenneth Martindale owns 1.35 million shares, as of June, 2017.

3. Frank Vitrano

Frank Vitrano is the chief strategic business development officer of Rite Aid, having held that position since Oct. 26, 2015. Vitrano served as the senior executive vice president and chief administrative officer (CAO) between 2008 and 2015. Before starting his various roles in Rite Aid, Vitrano was a co-president of Pathmark Stores Inc. and executive vice president, chief financial officer and treasurer of Supermarkets General Holdings Corporation. Vitrano holds 957,318 shares as of June, 2017.

4. Marc A. Strassler

Mark A. Strassler has over 40 years of experience and held various positions in Pathmark. Between 1987 and 1997, Strassler served as general counsel, corporate secretary and vice president of Pathmark. He also held positions as senior vice president, general counsel and secretary between 1997 and 2007. Thereafter, Strassler served as an executive vice president, secretary and general counsel of Rite Aid between 2009 and Oct. 26, 2015. Since Oct. 28, 2015, Strassler has been corporate counsel of Rite Aid. Strassler holds 483,917 shares of Rite Aid.

5. Darren W. Karst

Darren W. Karst is the Executive Vice President and chief financial officer of Rite Aid. Karst was an executive at the Midwest grocer Roundy's prior to joining Rite Aid in 2014. He also holds a Bachelor of Applied Science in accounting and business management from the University of Kansas. Karst is the fifth largest individual shareholder of Rite Aid with 398,591 shares.

 

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