Printer Friendly

REVCO PROMOTES RAAF TO VICE PRESIDENT, TREASURER

 TWINSBURG, Ohio, June 15 /PRNewswire/ -- Revco D.S. Inc. (NYSE: RXR) today announced that Robert T. Raaf has been appointed vice president and treasurer. Raaf, formerly vice president of taxes for Revco, will continue to report to Gregory K. Raven, executive vice president-finance and chief financial officer. He replaces James J. Hagan, who has been named senior vice president of real estate.
 Raaf, in addition to retaining responsibility for all tax operations, will assume management of the company's treasury, financial analysis, risk management and pension investment functions. As treasurer, he will direct corporate banking, credit and investment functions, oversee risk management operations including property and casualty insurance programs, ensure maximum utilization of corporate funds and direct the investment of the company's pension funds.
 Raven said, "I'm very happy to expand Bob's responsibilities. He has been an integral part of the Revco financial management team, and among other achievements was responsible for obtaining a $13.9 million refund from the Internal Revenue Service while Revco was in reorganization."
 As vice president of taxes Raaf was responsible for operation of Revco's tax department, including interpretation of legislation, formulation of tax policies and implementation of procedures for all taxes. This included analysis of Revco's tax operations during reorganization and capital restructuring.
 He came to Revco in 1989 from the "Big Eight" accounting firm of Arthur Andersen & Co., where he was a tax partner in their Kansas City, Mo., office. He joined Arthur Andersen in Milwaukee in 1971, and held management positions there and in Toledo, Ohio, New Orleans, and Paris.
 A graduate of the University of Notre Dame with a bachelor of business administration degree in accounting, Raaf was an officer in the U.S. Navy from 1968-1971. He is a past director and officer of the Greater Kansas City Foreign Trade Zone, and past director and vice president of the Boys and Girls Clubs of New Orleans and Kansas City.
 Raaf and his wife, Barbara, have three children and live in Hudson, Ohio.
 Revco, based in Twinsburg, Ohio, operates 1,190 drug stores in nine contiguous eastern states, filling more than 50 million prescriptions a year. The company has annual sales of $2.2 billion.
 -0- 6/15/93
 /CONTACT: Diana Lueptow of Revco D.S., Inc., 216-425-9811, ext. 6145/
 (RXR)


CO: Revco D.S., Inc. ST: Ohio IN: REA SU: PER

BM -- CL012 -- 2215 06/15/93 14:31 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 15, 1993
Words:399
Previous Article:CULP DECLARES 25 PERCENT STOCK DIVIDEND ANNOUNCES REGULAR QUARTERLY CASH DIVIDEND OF $.03 PER SHARE BOARD'S ACTIONS RAISE QUARTERLY DIVIDEND PAYOUT...
Next Article:REVCO NAMES HAGAN SENIOR VICE PRESIDENT OF REAL ESTATE
Topics:


Related Articles
REVCO NAMES CARL BELLINI EXECUTIVE V.P., MARKETING AND STORES
REVCO NAMES HAGAN SENIOR VICE PRESIDENT OF REAL ESTATE
REVCO PRESIDENT RECEIVES NEW TITLE
REVCO ANNOUNCES MARKETING PROMOTIONS
REVCO PROMOTES JAMES J. HAGAN TO EXECUTIVE V.P. & C.F.O.
REVCO ADDS THIRD OPERATING REGION; WHEELER PROMOTED TO VICE PRESIDENT
CARNEY PROMOTED TO SENIOR V.P., FINANCE AND ACCOUNTING AT REVCO D.S., INC., JOINS EXECUTIVE COMMITTEE
REVCO PROMOTES THREE EXECUTIVES, EXPANDS EXECUTIVE COMMITTEE
REVCO D.S., INC. PROMOTES PALMITER TO VICE PRESIDENT, ADVERTISING
REVCO PROMOTES NICHOLS TO EXECUTIVE V.P., NAMES RUSSELL SR. V.P., REAL ESTATE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters