Rite Aid Names CFO Matt Schroeder as CEO After Exiting Bankruptcy

The company reduces $2 billion in debt and transitions to private ownership following Chapter 11 restructuring.

Matt Schroeder, with Rite Aid since 2000, promoted to CEO from CFO.
Rite Aid eliminates $2 billion in debt and secures $2.5 billion in exit financing.
Company transitions to private ownership, canceling existing common shares.
Rite Aid closes over 500 stores and settles opioid-related litigation as part of restructuring.
New CFO, Steve Bixler, appointed after Schroeder's promotion.