RAD - Rite Aid names interim CEO as Heyward Donigan departs

• Healthcare industry expert Elizabeth Burr has been elected as interim CEO at U.S. drugstore chain Rite Aid ( NYSE: RAD ), effective immediately.
• Burr, a member of the company’s board, will succeed president and CEO Heyward Donigan, who has left the company. She has extensive experience in the health industry, having previously served as VP, Head of Health Ventures and Chief Innovation Officer at Humana.
• The firm has initiated a search to identify a permanent CEO and has retained a leading executive search firm.
• In addition, Rite Aid ( RAD ) reiterated its fiscal 2023 financial guidance for total revenues of $23.7B and $24B vs. $21.63B consensus , net loss between $584M and $551M, adjusted EBITDA between $410M and $440M and capital expenditures of ~$225M.
• RAD shares gained 2% in Monday's premarket session

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