McKesson names new general counsel and chief compliance officer
SAN FRANCISCO — McKesson on Monday announced Lori Schechter has been appointed EVP, general counsel and chief compliance officer, replacing Laureen Seeger, who will leave McKesson at the end of June to become the EVP and general counsel of American Express Company. Effective immediately, Schechter will be responsible for overseeing McKesson’s general counsel organization, which consists of the Law, Public Affairs, Compliance and Corporate Secretarial functions for McKesson and its subsidiaries. Schechter will also join McKesson’s executive committee.
“Lori is exceptionally qualified to lead our legal, public affairs and compliance functions,” stated John Hammergren, chairman and CEO, McKesson Corp. “Her deep litigation expertise and proven judgment, combined with her outstanding track record of developing and managing complex legal organizations, make her the ideal person to lead McKesson’s general counsel organization as we expand globally.”
Schechter has served as associate general counsel of McKesson since 2012. Previously, she was a litigation partner at Morrison & Foerster where she represented clients in complex litigation and investigations and served for four years as chair of the 500-lawyer global litigation department. Schechter was named by the National Law Journal as one of the “Top 50 Female Litigators in the Country.” She received her B.A. from Cornell University in 1983, and her J.D. from Yale Law School in 1987.
Seeger departs McKesson after 14 years with the company, having served as general counsel since 2006.
“Laureen has made tremendous contributions to McKesson during her tenure with the company,” Hammergren said. “She is an outstanding lawyer and executive, with incredible character, integrity and heart. She has consistently provided expert legal and strategic guidance on the most important issues facing the company, while continually strengthening McKesson’s general counsel organization by attracting and developing world-class talent. We wish Laureen the very best in her future with American Express.”
Target offers free shipping for orders $50 or more
MINNEAPOLIS — Target has implemented a new policy for online shopping, making nearly all online orders of $50 or more eligible for free shipping.
“We’ve heard from guests they don’t fully understand our shipping policy – so we’ve changed it to make it simpler and reduce the friction in making purchases on the site,” stated Jason Goldberger, SVP, Target.com and mobile. “Providing our guests a better free shipping offer is just one of the many ways we continue to improve the Target.com experience.”
In addition to the new shipping policy, guests can now also browse Target.com for most in-store merchandise and purchase many of those items online to pick up in store. Target also recently expanded its online subscriptions service for everyday essentials like diapers and coffee. In addition, Target.com returns are already free via postal service or by visiting a Target store.
Guests who use a REDcard credit or debit card will continue to receive free shipping and 5% off their purchases on Target.com.
Rite Aid fielding four aces with its latest health and wellness hand
There has been a lot of good news generating out of Rite Aid headquarters in Camp Hill, Pa., in the past week. Not the least of which was the 2.7% lift in first-quarter sales and the 3.1% gain in same-store sales for the period. Rite Aid delivered its seventh consecutive quarter of profitability, noted John Standley, Rite Aid chairman and CEO, during a conference call with analysts last week.
And Motley Fool’s consumer goods analyst Sean O’Reilly raved about Rite Aid's Health Alliance program, what he described as the company's "ace up its sleeve." O'Reilly noted that the Health Alliance program is designed to drive traffic into Rite Aid's stores through doctor recommendations in the markets where Health Alliance is active. But there's a deeper dive here, because Rite Aid is driving the right customers into its stores — customers with poly-chronic or chronic conditions that represent more frequent trips and bigger market baskets. What's more, Rite Aid's Health Alliance program aims to make those acquired patients more sticky by coordinating a comprehensive care program that will help those patients reach their health goals.
Not mentioned by O'Reilly is another ace Rite Aid has: the company's new Wellness store format. The most recent incantation of Rite Aid's Wellness store format soon will be showcased in Beverly Hills. The scope of the project included a total remodel and enlargement of the pharmacy, the redesign of several key departments — including beauty and over-the-counter medicines — and the addition of a Fresh Day Café and patio area. "[This store] illustrates how we're aggressively evolving the format to identify additional features that can be broadly applied to future remodels and other features that can be implemented in select stores with specific growth opportunities," Standley told analysts. "Wellness Stores will also serve as the foundation for expanding our healthcare offering, including our Rite Aid Health Alliance program for patients with chronic and poly-chronic conditions, as well as adding RediClinics to Rite Aid stores."
A third ace fielded by Rite Aid is represented by its recent acquisition of RediClinic. Rite Aid is targeting 70 RediClinic openings over the ensuing 18 months and with that augment its total health and wellness offering. The addition of Rite Aid Health Alliance and RediClinics to select Wellness stores will provide a powerful healthcare experience in the communities served by the Pennsylvania retail pharmacy operation.
Rounding out Rite Aid's "ace" initiatives is the company's ground-breaking loyalty program. Rite Aid's Wellness65+ membership roll now is approaching 2 million. And the broader Wellness+ loyalty program continues to perform as well, as the 25 million actively enrolled respond positively to the program's combination of exclusived savings and wellness benefits.