Rite Aid has promoted Matt Schroeder to senior vice president, chief accounting officer and treasurer, effective immediately. He will continue to report to Darren Karst, the company’s senior executive vice president, CFO and chief administrative officer.

Schroeder, who is currently group vice president of strategy, investor relations and treasurer, is assuming the chief accounting officer responsibilities from Doug Donley, who is retiring after more than 20 years with the company. Schroeder joined Rite Aid in 2000 as vice president of financial accounting and was promoted to his current role in 2010. Prior to joining the company, Schroeder worked for Arthur Andersen, where he held several positions of increasing responsibility, including audit senior and audit manager.

The company also announced that Brian Hoover, who is currently vice president of financial accounting, has been promoted to group vice president and controller, reporting to Schroeder. Hoover joined Rite Aid in 1995 as a financial analyst and has held various accounting positions of increasing responsibility before being promoted to his current role in 2008. Prior to joining Rite Aid, Hoover worked for KPMG as a staff auditor.