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Rite Aid to remove Coutu from board

Camp Hill, Pa. – Rite Aid will remove François J. Coutu from the board of directors effective as of Oct. 31. 24/7 Wall Street reports that a recent share sale by The Jean Coutu Group, which has held a seat on the board since 2007, brings its ownership of the company under the 5% threshold for board membership.

According to 24/7 Wall Street, The Jean Coutu Group has been selling Rite Aid shares at less than purchase price for some time.

 

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