GNC Holdings has appointed drug chain veteran Ken Martindale as CEO.
The specialty retailer of vitamins and supplements on Wednesday announced that Ken Martindale would succeed GNC interim CEO Bob Moran, effective September 11. The GNC board selected Moran as its non-executive chairman, and he will work with Martindale to ensure a smooth transition.
Martindale joined Rite Aid in 2008 as senior executive VP merchandising, marketing and logistics and rose through the ranks. In 2013 he was promoted to President and COO and he took on the CEO title in August 2015.
Rite Aid, based in East Pennsboro Township, Cumberland County, said it has promoted Bryan Everett, now executive vice president in charge of store operations, to the newly created position of COO of Rite Aid stores.
Rite Aid's Executive Vice President Bryan Everett will be Chief Operating Officer, a newly created position.
In June, Rite Aid's merger plans with Walgreens fell apart but Walgreens is still buying about 4500 Rite Aid Stores. In July, the company reported net income of $15.7 million for its second quarter, down from $64 million in the year-ago period. Revenues totaled $641.0 million, down from last year's $673.2 million. "I'm proud of what we've accomplished so far and look forward to working with Ken and the team as we continue to leverage the strengths and advantages inherent in our model, improve the customer experience and make progress toward our goal of delivering meaningful, profitable growth". Known for its line of vitamins and supplements, GNC has about 9,000 stores worldwide, including 2,378 Rite Aid franchise store-within-a-store locations.