PHILADELPHIA, Pa. (WHTM) – Rite Aid Corporation has announced the departure of President and CEO Heyward Donigan and the hiring of an interim replacement.

Rite Aid did not say why Donigan was departing the company, however, they stated they wish her “all the best in her future endeavors” after leading the company through the COVID-19 pandemic.

According to Rite Aid, its Board of Directors has appointed Elizabeth (“Busy”) Burr, a member of the Company’s Board, as interim CEO, effective immediately. A search for a permanent CEO was also initiated.

Burr previously served as Vice President, Head of Health Ventures and Chief Innovation Officer at Humana.

Bruce Bodaken, Rite Aid Chairman, stated, “As the Company continues its efforts to enhance its competitive position in this dynamic environment, the Board determined and Heyward agreed that now is the right time to identify the next leader of the business. With a deep understanding of the industry and our strategy, the Board was unanimous in its belief that Busy is highly qualified to serve as interim CEO while the Board conducts a search for a permanent successor. We are fortunate to have someone of her caliber to step into the role and are confident in Busy’s ability to lead the Company forward during this transition period.”

Rite Aid reported a $67.1 million loss and revenue of $6.08 billion in the third fiscal quarter of 2022.

Burr said, “Having served as a Director since 2019, I have great respect for the important role Rite Aid plays as a full-service pharmacy improving health outcomes for millions of Americans. I will work with the Board and management team to realize our vast potential while supporting our thousands of pharmacists and team members who are focused every day on meeting the needs of our communities and customers. With Rite Aid’s well-established brand and its committed and talented team, I look forward to delivering on our business strategy and driving value for all our stakeholders.”

Rite Aid says revenues through their Retail Pharmacy Segment decreased 0.5% due to “a reduction in COVID vaccine and testing revenue as well as store closures.” The losses were “partially offset” by an increase in both acute and maintenance prescriptions.

Rite Aid listed its former Camp Hill headquarters for sale over the summer after relocating to Philadelphia. The company was previously headquartered in Camp Hill and opened its first store in Scranton 60 years ago.

The company says their selling, general, and administrative expenses benefited from a lower payroll, occupancy, and other operating costs due to store closures and “cost control initiatives.”

On Monday, Jan. 9, Rite Aid said it “will provide additional detail on its financial and operational progress when it reports its full fourth quarter and fiscal year 2023 results.”