Rite Aid Corp. RAD said Monday its board has named Elizabeth Burr, a former Humana Inc.HUM executive, as interim chief executive, replacing Heyward Donigan, who is leaving the role. Burr was previously vice president, head of health ventures and chief innovation officer at Humana. She has been a director on the Rite Aid board since 2019. The company has initiated a search for a permanent CEO and has retained a search firm. The company said it still expects fiscal 2023 revenue of $23.7 billion to $24.0 billion and a loss of $584 million to $551 million. However, it expects to generate positive free cash flow in the period. Shares were up 0.6% premarket, but are down 74% in the last 12 months, while the S&P 500 SPX has fallen 17%.
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