CarMax names Rite Aid CEO to board

RICHMOND, Va. - CarMax Tuesday evening announced that its board of directors has elected Rite Aid chairman and CEO John Standley to membership on the board, bringing total board membership to 12.

Standley will serve on the Audit Committee.

“We are excited to welcome John to the CarMax board,” said Tom Folliard, CEO CarMax. “He brings extensive retail experience not only from his current role as the chairman and CEO of Rite Aid, but also from his many years in other senior leadership positions. His executive, operational and finance knowledge will make him a highly valuable addition to our board.”

Standley has served as Rite Aid CEO since 2010 and chairman of the board since 2012. Standley was president of Rite Aid from 2008 until 2013 and its COO from 2008 until 2010.

He previously served as CEO and as a director of Pathmark Stores from 2005 to 2007.

Standley first joined Rite Aid in December 1999, serving in a variety of roles during his original tenure, including CFO, chief administrative officer and senior EVP.