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NEW REVCO BOARD RELIEVES CEO OF DUTIES; BEGINS SEARCH FOR SUCCESSOR

 NEW REVCO BOARD RELIEVES CEO OF DUTIES;
 BEGINS SEARCH FOR SUCCESSOR
 TWINSBURG, Ohio, June 4 /PRNewswire/ -- The new board of directors of Revco D.S., Inc. today announced that it has removed Boake A. Sells as chairman and chief executive of the retail drug company, which emerged from Chapter 11 protection this week.
 The board said that there were fundamental differences between it and Sells in their approach to corporate governance.
 The board said that the five other principal executive officers of the company, D. Dwayne Hoven, Gregory K. Raven, Thomas E. Robinson, William P. Seltzer and Jack A. Staph, have been named to constitute the office of the president and will report to the executive committee of Revco's board of directors. The board said that a recruitment committee has been formed to begin the search for a new CEO and that it would be considering candidates both within and outside the company.
 "This development entails no change of any kind in the operations or business strategy of Revco," said Talton Embry, a director, and as a representative of the board. "Revco has made dramatic strides forward during the last several years. Our objective is to extend and enhance that progress."
 Revco is based in Twinsburg, Ohio, with annual sales of $2.0 billion. Revco fills more than 46 million prescriptions a year, and operates approximately 1,150 drug stores in nine contiguous eastern states.
 -0- 6/4/92
 /CONTACT: Diana Lueptow of Revco D.S., Inc., 216-425-9811, ext. 6145/ CO: Revco D.S., Inc. ST: Ohio IN: REA SU: PER


KK -- CL003 -- 6867 06/04/92 08:27 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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