Rite Aid Corporation Appoints Matt Schroeder as Chief Executive Officer

Rite Aid Corporation (“Rite Aid” or the “Company”) today announced that Matt Schroeder has been named Chief Executive Officer following the Company’s exit from Chapter 11 bankruptcy. Mr. Schroeder joined Rite Aid in 2000 and most recently served as the Company’s Chief Financial Officer. He succeeds Jeffrey S. Stein, who stepped down as Chief Executive Officer and Chief Restructuring Officer in connection with the Company’s exit from Chapter 11 bankruptcy.

“Matt has held a variety of leadership positions during his tenure at Rite Aid and has a deep understanding of all aspects of our business,” said Bruce Bodaken, Rite Aid’s chairman of the board during the Chapter 11 process. “He has demonstrated outstanding leadership during this process and is an excellent fit for the company as it evolves into a stronger organization.”