Is Philip Satre really an outstanding director ?

Consider Rite Aid’s performance where Satre is the Lead Director:
 Rite Aid’s stock price has fallen from over $4 per share to below $1 per share since Philip Satre joined Rite Aid’s Board of Directors in 2005.  During the past five fiscal years, Rite Aid’s stock price has underperformed the Russell 1000 Consumer Staples Index, CVS Caremark, and Walgreens.  On September 23, 2010, Rite Aid lowered its sales projections and expects a net loss in 2011 of between $400 million to $590 million.  Riskmetrics/ISS rated Rite Aid’s executive compensation as a “high concern” in 2010. Over the past three fiscal years, Rite Aid’s former CEO Mary Sammons was allowed to receive $16.9 million in total compensation.  Rite Aid’s Board of Directors is chaired by former CEO Mary Sammons rather than an independent director.  Under Rite Aid’s by-laws, shareholders cannot call special meetings.

Let’s get Rite Aid back on the right track