Retail News Breaks
Martindale named president of Rite Aid
June 24th, 2013
CAMP HILL, Pa. – Rite Aid Corp. has promoted senior executive vice president and chief operating officer Ken Martindale to president and COO.
The drug chain said Monday that the promotion is effective immediately. Martindale, 53, assumes the president's title from John Standley, chairman and chief executive officer.
"Since becoming our chief operating officer in 2010, Ken has continued to play a significant role in helping the company improve its overall performance and return to profitability," Standley said in a statement. "Ken's appointment as president and chief operating officer is an opportunity for Rite Aid to further leverage his exceptional leadership skills, broad operating experience and strategic capabilities as we continue to focus on successfully growing our business."
Martindale has been a champion of change and innovation at the company, in particular rallying his executive team, Rite Aid associates and supplier partners to embrace the notion of "wellness empowerment" — helping today's informed consumers to take a more active role in managing their health. The result has been a successful loyalty program (wellness+), innovative store concept (the “wellness store”), expanded pharmacy services, creative front-end merchandising, a range of new product offerings and a stronger digital presence.
A veteran of the food and drug retail sector, Martindale has over 35 years of experience in operations, marketing and merchandising. Before joining Rite Aid as senior executive vice president of merchandising, marketing and logistics in December 2008, he was co-president and chief merchandising and marketing officer at Pathmark Stores Inc., a $4 billion regional supermarket chain with a strong pharmacy business. He served there until December 2007 when the company was sold to the A&P.
Martindale started his retail career in 1975 at Smith's Food and Drug Centers, where he rose from a district manager in store operations to senior vice president of marketing and senior vice president of sales and merchandising. In January 1998 he joined Fred Meyer Inc., a $15 billion food, drug and general merchandise retailer, after it acquired Smith's. He served as executive vice president of sales and procurement until September 1999 after Fred Meyer's merger with Kroger Co.
Also during his retail career, Martindale founded and operated Orchard Street Inc., a food retailer in Salt Lake City; consulted for national and regional food retailers on category management, marketing and strategic planning; and served as president, CEO and chairman of Intesource Inc., a software company designed to help food and drug retail, wholesale and manufacturing clients with procurement.
Martindale is president of The Rite Aid Foundation and serves on the board of the National Association of Chain Drug Stores.
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