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Pharmaca chief executive Panzer to join Sears
February 3rd, 2014
BOULDER, Colo. – Mark Panzer has stepped down as president and chief executive officer of Pharmaca Integrative Pharmacy to join Sears Holding Corp.
Former American Stores Co. vice chairman and chief operating officer Dave Maher is taking the helm at Pharmaca until a successor is found. Maher was named to the chain’s board in 2008.
At Sears, Panzer will serve as senior vice president and president of pharmacy, overseeing the company's Kmart pharmacy business, both in-store and online.
Panzer joined Pharmaca in 2008 after spending seven years as a senior operations and marketing executive at Rite Aid Corp. Before that he enjoyed a varied career at Osco Drug, Sav-on Drugs, American Stores and Albertsons.
He was credited with making the most of Pharmaca's innovative approach to drug store retailing, which brings together a full-service pharmacy with holistic therapies and certified nontraditional practitioners.
The chain last year saw substantial growth in all areas of its business. Retail sales grew by over 11%, while the retailer’s e-commerce business rose dramatically.
Part of Pharmaca’s strategy has been to expand services, especially in the health and beauty area. It now has six stores on the West Coast outfitted with Natural Beauty Bars, offering salon services such as waxing and makeup applications by licensed estheticians.
The company had announced plans for two new stores in the first half of 2014 in California and Colorado, with three more to follow in the second half.
Pharmaca currently operates 24 pharmacies in California, Colorado, New Mexico, Oregon and Washington, as well as an online store and pharmacy at pharmaca.com.
*Editor's Note: Article updated with information on Panzer's role at Sears.