Retail in brief | API, Rite Aid, Oriola

Retail in brief | API, Rite Aid, Oriola

17 March 2022 - Deborah Wilkes

  • Wesfarmers moves closer to API takeover
  • Rite Aid streamlines management team
  • Oriola appoints interim chief executive

Wesfarmers moves closer to API takeover

Australian conglomerate Wesfarmers has moved a step closer to acquiring Australian Pharmaceutical Industries (API), including its Priceline Pharmacy chain.

API’s shareholders have voted in favour of the takeover deal agreed with Wesfarmers which values the company at AUD764 million (USD567 million) (click here to read the News story).

The deal still has to be approved by the Federal Court of Australia.

API owns the Priceline Pharmacy chain as well as the Soul Pattinson Chemist and Pharmacist Advice brands. It also operates the Clear Skincare non-surgical skincare clinic business and the Consumer Brands health and personal care business.

Rite Aid streamlines management team

Rite Aid has eliminated the position of chief operating officer and consolidated its pharmacy leadership.

US-based Rite Aid said chief operating officer Jim Peters and executive vice president and chief pharmacy officer Jocelyn Konrad had left the company.

Karen Staniforth – senior vice president, clinical pharmacy services – will take up the position of chief pharmacy officer in addition to her current responsibilities. The position will focus on centralised pharmacy operations.

Andre Persaud – executive vice president and chief retail officer – will take over field operations for pharmacy as well as oversight of front-end operations.

Staniforth, Persaud and Erik Keptner – senior vice president and chief marketing and merchandising officer – will report directly to Heyward Donigan, Rite Aid’s president and chief executive officer.

In addition, Justin Mennen – executive vice president and chief information officer – will expand his responsibilities to include leadership of all digital and ecommerce. His new title is chief digital and technology officer.

Donigan commented that the changes were part of Rite Aid’s “ongoing efforts to reduce costs and remove layers”.

Rite Aid has more than 2,450 retail pharmacies across 17 states in the US.

Oriola appoints interim chief executive

Oriola has appointed Katarina Gabrielson as interim chief executive officer with effect from 15 March 2022.

The Finnish company announced in February that its president and chief executive officer Elisa Markula was leaving “at the latest in August 2022” (click here to read the News story).

Oriola said Gabrielson would be interim chief executive officer until a new chief executive officer had been appointed.

Gabrielson joined Oriola in 2012. She is vice president of the Oriola Sweden business and a member of the Oriola Management Team.

News of Markula’s departure came soon after Oriola and Lithuania’s Euroapotheca announced they had agreed to merge their pharmacy businesses in Sweden (click here to read the News story).

Oriola, which operates in Sweden and Finland, plans to focus on wholesale and distribution of pharmaceuticals as well as expert services to pharmaceutical companies.

Markula joined Oriola in autumn 2021 (click here to read the News story).

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Australian Pharmaceutical Industries Rite Aid Oriola

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