Rite Aid appoints former executive to board of directors

CAMP HILL, Pa. Rite Aid on Wednesday named former executive David Jessick to its board of directors.

Jessick will fill the seat on the 14-member board vacated by George Golleher, who was elected in 2007 for a three-year term and has resigned. Golleher served on the board since 2002.

“George Golleher has been a hard-working member of our board for the past seven years, and we thank him for the many contributions he has made to our company,” stated Mary Sammons, Rite Aid chairman and CEO. “At the same time, we welcome Dave Jessick as a valuable addition, especially with his retail background and in-depth knowledge of Rite Aid.”

Jessick, 55, currently an independent investor, served Rite Aid as SVP, Chief Administrative Officer from December 1999 through July 2002. He then served as a consultant to Rite Aid's CEO and senior management from July 2002 until February 2005. His more than 30 years of retail experience includes serving as CFO and EVP, finance and investor relations of Fred Meyer, a major northwest food and drug retailer, from January 1997 to July 1999. Prior to joining Fred Meyer, he spent 17 years with Thrifty Payless, a 1,000-store west coast drugstore chain, where he was EVP and CFO when Rite Aid acquired the company in 1996. Jessick also served as non-executive chairman of Pathmark Stores from August 2005 until December 2007, during the time that Rite Aid’s president and COO John Standley served as CEO of the grocer.

Jessick’s term will expire at the company’s annual meeting in June 2010, at which time he is expected to stand for re-election.

Jessick began his career as a Certified Public Accountant. He received a Bachelor of Business Administration degree in Accounting from Boise State University.