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GNC Holdings names former Rite Aid boss Ken Martindale as its new chief executive officer

Martindale replaces interim CEO Bob Moran who will become GNC’s non-executive chairman replacing Michael Hines who steps down with effect from September 11

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Martindale was previously president of the drugstore chain and chief executive of Rite Aid Stores

Health and wellness products retailer GNC Holdings Inc. (NYSE:GNC) has named former Rite Aid Corp (NYSE:RAD) boss Ken Martindale as its chief executive officer, replacing interim CEO Bob Moran.

Martindale was previously president of the drugstore chain and chief executive of Rite Aid Stores.

Moran will become GNC’s non-executive chairman replacing Michael Hines who will step down with effect from September 11 but remain on the board.

Commenting on Martindale’s appointment, Hines said. "Ken is a proven leader with deep retail expertise, intimate knowledge of our business through his years of leadership with our partner, Rite Aid, and a record of success in transforming retail business models,"

Meanwhile, confirming Martindale’s departure, Rite Aid said it had promoted Bryan Everett - currently executive vice president of store operations - to the newly created position of chief operating officer.

In pre-market trade, Rite Aid shares were up 1.2% at US$2.42, while GMC shares were 1.8% lower at US$8.05.

Quick facts: GNC Holdings Inc

Price: 2.16 USD

NYSE:GNC
Market: NYSE
Market Cap: $182.66 m
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