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Fortune

Sheryl Estrada

Rite Aid CFO promoted to CEO as drug store chain exits bankruptcy

Rite Aid Matt Schroeder

(Credit: Getty Images)

Rite Aid has emerged from federal bankruptcy protection and will operate as a private company. And it has promoted its CFO, Matt Schroeder, to chief executive.

The drug store chain announced on Tuesday that Schroeder is succeeding Jeffrey S. Stein, who stepped down as CEO and chief restructuring officer in connection with the company’s emergence from Chapter 11. Schroeder has been part of Rite Aid since 2000, serving in various leadership positions before becoming CFO in 2019.

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