Rite Aid Corporation (NYSE:RAD): Appointed Matt Lynch As Chief Information Officer


Dallas, Texas 05/06/2014 (FINANCIALSTRENDS) – One of the nation’s leading drugstore chains with operations in 31 states, Rite Aid Corporation (NYSE:RAD) yesterday announced an appointment of Matt Lynch as its Senior Vice President and Chief Information Officer. Lynch succeeded Don Davis who retired from the company after almost 14 years of service. Lynch carries with him over three decades of experience in the information technology industry. Lynch holds a Bachelor’s in Computer Science from Northern Arizona University.

At Rite Aid, Lynch will look after all aspects of the company’s information and technology operations including computer systems, network infrastructure, data security and telecommunications as well as ongoing development and execution of the company’s immediate and long term IT strategy. Lynch will be reporting to Rite Aid’s Senior Executive Vice President, Chief Administrative Officer and Chief Financial Officer, Frank Vitrano.

Executive Comment:

Rite Aid Corporation (NYSE:RAD)’s Frank Vitrano expressed, “Matt is a seasoned information technology professional with diverse business systems’ management and deep retail experience. He will be extremely beneficial to Rite Aid as we continue to enhance our information technology and services platforms to help us achieve our dual goals of delivering a superior customer experience and driving continued growth for our company.”

Profile Brief: Matt Lynch

Recently, Lynch was serving at the largest U.S. based full range sporting goods retailer, Dicks Sporting Goods Inc. (NYSE:DKS) as Senior Vice President and Chief Information Officer and was responsible for the enterprise IT function for all brands as well as e-commerce businesses. Previous to this appointment, Lynch held various executive positions at ShopKo Stores Operating Co., LLC and Green Bay, Wisc. Prior to these, Lynch held management positions at Runzheimer International, Air Wisconsin Airlines and American West Airlines and Sperry Aerospace.

Stock Update:

Rite Aid Corporation (NYSE:RAD)’s stock yesterday shed 0.13% to close at $7.86. The stock traded with considerably low volume of 19.22 million shares against its 30 day average volume of 30.08 million shares.

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