Peters succeeds Bryan Everett, who the Camp Hill, Pa., chain said was stepping down to pursue other opportunities.
Everett had joined the company in June 2015 as executive vice president of store operations and was named operating chief 2 1/2 years later.
Peters, 47, most recently was chief executive of Skyward Health, the Clarks Summit, Pa., strategic adviser on health care.
He was also an executive at Geisinger Health System, the Danville, Pa., healthcare provider, and a principal at the Washington software-focused venture-capital firm Updata.
Peters' "track record of leadership and acting as a change agent to rejuvenate brand perception is exactly what Rite Aid needs to propel our business forward," CEP Heyward Donigan said in a statement.
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