As part of its continued management restructuring initiatives,
Rite Aid Corporation
) recently selected David Abelman as the senior vice president
for brand development and innovation with immediate effect.
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With 25 years of tangible experience, Abelman will bring on board
deep industry insight and will directly report to the company's
president and chief operating officer (CEO) Ken Martindale. In
his new role, Abelman will supervise the constant development of
the company's brand products. Alongside, he will be responsible
for undertaking innovations to drive the company's business.
Prior to this, Abelman was the co-founder and CEO of Self-Health
Nation, before which he served A.C. Moore Arts & Crafts, Inc.
as chief merchandising, marketing officer and executive vice
president. Additionally, his illustrious career includes his
association with companies like Michaels Stores, Inc., Daymon
Office Depot, Inc.
), at several senior level merchandising and marketing positions.
With profound experience in merchandising, broad-based marketing
and entrepreneurship, Abelman is a prized asset for Rite-Aid. He
brings with him thorough sector knowledge and top managerial
experience which will take the company forward, deliver best
products and seamlessly cater to customers' health and wellness
Earlier, Rite Aid had promoted Dedra N. Castle as the new
executive vice president and chief human resources officer of the
Castle possesses over 19 years of experience in human resource
management. Donning this new mantle, she took full charge of
human resources, including talent management, benefits and
compensations, recruitment, developments and diversifications,
training and labor relations.
Rite Aid, holding a Zacks Rank #2 (Buy), is the third largest
drugstore retailer in terms of number of stores after
) and CVS Caremark Corp. (CVS). Its focus on long-term growth is
evident from the recent expansion of its distribution agreement
). The deal for both brand and generic pharmaceuticals will allow
the respective companies to mutually benefit from each other.
Looking ahead, Rite-Aid's sustained focus on expanding pharmacy
and clinical services through its Wellness+ customer loyalty
program and remodeling of wellness stores raise our hopes. We
believe that such measures will enable the company to broaden its
customer base and boost top- and bottom-line performance.