Rite Aid Corporation (RAD) recently announced management changes as per which, it named Dedra N. Castle as the new Executive Vice President and Chief Human Resources Officer.
Castle, with a bachelor of business administration degree from National University in San Diego, possesses 19 years of tangible experience in human resource management. Donning this new mantle, she will take full charge of human resources, including talent management, benefits and compensations, recruitment, developments and diversifications, training and labor relations.
Prior to this, Castle served the Sam’s Club Division of Wal-Mart Stores Inc. (WMT), where she was responsible for corporate human resource functions, apart from being the Chief Inclusion and Diversity Officer. Simultaneously, Castle was serving as the vice president of Sam’s Club’s People Division, administering field human resources at roughly 600 Sam’s Club outlets in the country.
Prior to Sam’s Club, Castle held several senior human resources positions, including Auto Zone Stores Inc., Winn-Dixie Stores Inc. etc. In the early days of her career, she was hired by the Department of Defense for handling the civil service employment function.
Castle, who is an able leader with profound experience in the field of human resources, is a valuable asset for Rite-Aid, which harbors approximately 90,000 associates. With her leadership skills and knowledge, she is likely to help the company achieve its long-term goals.
Rite Aid, holding a Zacks Rank #2 (Buy), is the third largest drugstore retailer in terms of number of stores after Walgreen Co. (WAG) and CVS Caremark Corp. (CVS). Its focus on long-term growth is evident from the recent news of the expansion of its distribution agreement with McKesson Corporation (MCK), for both brand and generic pharmaceuticals, which will allow both the companies to mutually benefit from each other’s expertise.
As per the terms of the expanded agreement, McKesson will be responsible for sourcing and distribution of generic pharmaceuticals for Rite Aid as a part of its proprietary One Stop Generics program. On the other hand, Rite Aid stores will benefit from McKesson’s daily direct-to-store delivery service model for brand and generic pharmaceutical products.
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.
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