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Former Rite Aid Chief Digital and Technology Officer Justin Mennen.

Rite Aid’s chief digital and technology officer steps down

The company’s CEO also left abruptly at the start of the year

Rite Aid’s chief digital and technology officer has stepped down, marking the second time this year the retailer has had a high-ranking official suddenly leave.

Rite Aid Chief Digital and Technology Officer Justin Mennen, who was also an executive vice president, has entered into a separation agreement with Rite Aid, reports investor news group Seeking Alpha. Mennen waived his rights to severance benefits but will receive a lump sum of $900,000.

In January, Rite Aid announced the departure of President and CEO Heyward Donigan, saying in a statement the two sides agreed it was time to identify a new leader.

At the time, Elizabeth Burr was named interim CEO as the company searched for a permanent replacement.

Rite Aid is experiencing hard times amid poor financial performances, store closings, and a major data breach. The retailer is looking at projected fiscal year losses of $680 million, and since late 2021 has closed 180 locations.

For Q1, Rite Aid reported a net loss of $306.7 million (vs. $110.2 million in losses in Q1 2022), and an adjusted net loss of $40.1 million. Revenues came in at $5.65 billion, which was about $350 million less than Q1 2022.

The data breach on May 27 compromised the personal information of customers, and a month later the company was accused of giving information of patients to third parties including Meta and Google.



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