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CtW Investment Group wants Rite Aid to overhaul its board
WASHINGTON — An investment group that holds approximately 3 million shares of Rite Aid stock is calling for an overhaul of the retail pharmacy chain’s board ahead of its annual stockholders meeting next Thursday.
In a letter to Rite Aid’s board of directors, the CtW Investment Group, which works with pension funds sponsored by unions affiliated with the nonprofit group Change to Win, said its analysis found that only 4-of-the-11 nominees named in Rite Aid’s May 13th proxy statement were sufficiently independent to represent public shareholders.
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Canning exits Health Mart, nabs top marketing spot at Omnicare
SAN FRANCISCO — Drug Store News has learned that Tim Canning, president of McKesson’s Health Mart division, is leaving the company to take the position of SVP and chief marketing officer at Omnicare. The move is effective June 17.
“Tim has played an important role in advancing the success of McKesson’s retail independent pharmacy customers through his leadership of key solutions and programs, such as Health Mart,” noted a company representative.