August 12, 2019 / 11:14 AM / 11 days ago

Rite Aid names Heyward Donigan as CEO

Aug 12 (Reuters) - Rite Aid Corp on Monday named Heyward Donigan as chief executive officer, effective immediately, months after announcing its restructuring plan.

The plan, announced in March, includes a change in leadership and a reduction of 400 corporate positions, and is expected to save about $55 million annually.

Donigan, who most recently served as CEO at Sapphire Digital, a website that analyzes health-care plans, will succeed John Standley, who has led the company since 2010.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli

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