Rite Aid Corporation (NYSE: RAD) is a drug store company with a market capitalization of $1.97 billion as of August 9, 2018. 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 2,550 stores in 19 states. Rite Aid sells prescription drugs and front-end products, such as over-the-counter medication, beauty aids, personal items, and food and beverages.
In 2017, a merger between Rite Aid and rival Walgreens Boots Rg (WBA) was nearly scrapped due to difficulty of winning antitrust approval. Instead of merging, Walgreens bought half (1,932 exactly) of Rite Aid stores for $4.4 billion in cash. (For more, see: Walgreens Scraps Rite Aid Deal, to Buy Some Stores Instead) In February 2018, it was announced that the remainder of Rite Aid would be bought by grocery chain Albertsons a $24 billion deal. However, that deal too was scrapped on August 8, 2018 ahead of a shareholder meeting. The deal faced opposition from several retail investors, and critics have argued the deal provides Albertsons' private equity owner, Cerberus Capital Management, a vehicle to take the company public without rewarding Rite Aid shareholders in turn, according to CNBC.
Here are the company's top shareholders.
1. John T. Standley
John T. Standley is Rite Aid's largest major direct shareholder with approximately 4.32 million shares as of July 17, 2018. 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 GNC and the former CEO and 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. Martindale departed Rite Aid for GNC in September of 2017. Kenneth Martindale owns 2.09 million shares, as of July 17, 2017.
3. Kermit R. Crawford
Kermit Crawford is president and Chief Operating Officer of Rite Aid. Crawford made the jump to Rite Aid from Walgreens in 2015, where he had been employed in various executive positions for over thirty years including serving as the executive VP and president of Walgreen's pharmacy, health, and wellness division. Crawford is the third largest Rite Aid shareholder and owns 975,610 shares as of October 2, 2017.
4. Darren W. Karst
Darren W. Karst is the Senior Executive Vice President, Chief Financial Officer, anf Chief Administrative 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 fourth largest individual shareholder of Rite Aid with 662,565 shares as of July 17, 2018.
5. Bryan B. Everett
Bryan Everett is the current Chief Operating Officer of Rite Aid stores, a separate position from Mr. Crawford's title of COO of the company itself. Everett came to Rite Aid from Target Corp (TGT), where he had previously served as the senior VP of store operations. Everett is also on the Rite Aid board of directors. Everett is the fifth largest Rite Aid individual shareholder, holding 590,070 shares as of July 17, 2018.