As part of its continued management restructuring initiatives, Rite Aid Corporation (RAD - Analyst Report) recently selected David Abelman as the senior vice president for brand development and innovation with immediate effect.
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 Worldwide and Office Depot, Inc. (ODP - Analyst Report), 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 requirements.
Earlier, Rite Aid had promoted Dedra N. Castle as the new executive vice president and chief human resources officer of the company.
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 Walgreen Co. and CVS Caremark Corp. (CVS). Its focus on long-term growth is evident from the recent expansion of its distribution agreement with McKesson Corporation (MCK - Analyst Report). 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.