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Originally published Thursday, January 21, 2010 at 8:22 AM

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Rite Aid says Standley will replace Sammons as CEO

Drugstore chain Rite Aid Corp. said Thursday it will promote President and Chief Operating Officer John Standley to CEO in June.

The Associated Press

NEW YORK —

Drugstore chain Rite Aid Corp. said Thursday it will promote President and Chief Operating Officer John Standley to CEO in June.

The Camp Hill, Pa., company said its current CEO, Mary Sammons, will continue as chairwoman of the board until June 2012. Sammons has been CEO since June 2003.

Standley, 46, spent six years at Rite Aid before leaving in 2005 to become CEO of the Pathmark grocery chain. He returned to the company in September 2008 as part of a management shake-up.

The changes will take effect June 24.

Sammons, 63, will remain chairwoman until Rite Aid's 2012 annual meeting. She took that role in June 2007, after the company bought 1,850 stores from the Brooks Eckerd pharmacy chain. Sammons joined the company in December 1999 as president, COO and director.

Rite Aid runs about 4,800 stores in 31 states and Washington, DC.

In midday trading, its shares rose 2 cents to $1.52.

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