CAMP HILL, Pa.--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) today announced that Darren Karst has been promoted to the combined role of senior executive vice president and chief financial officer and chief administrative officer, effective immediately. He will continue to report to Rite Aid Chairman and CEO John T. Standley.
Karst, who joined Rite Aid in August, 2014 as the company’s executive vice president and chief financial officer, is assuming the CAO responsibilities currently held by Frank Vitrano, who will remain with the company as its chief strategic business development officer. In addition to Karst’s current responsibilities for all aspects of the company’s finance, accounting, treasury, tax, investor relations, legal, risk management, internal assurance and asset protection functions, he will now also be responsible for the company’s information technology, indirect procurement and operating efficiency functions.
The company also announced the appointment of Jim Comitale, currently assistant general counsel, to senior vice president, general counsel and secretary, reporting to Karst. He is succeeding Marc Strassler, who will continue to serve as Rite Aid’s corporate counsel.
Rite Aid Corporation is one of the nation's leading drugstore chains with nearly 4,600 stores in 31 states and the District of Columbia and fiscal 2015 annual revenues of $26.5 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.