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Fred’s names new CEO

Fred’sFred’s, a chain of discount retail stores and pharmacies, announced that chief executive officer Jerry A. Shore will retire from the company in February 2017.

Mr. Shore was named Chief Executive Officer in October 2014. Mr. Shore joined fred's in April 2000 as Executive Vice President and Chief Financial Officer.

In February 2009, he was promoted to EVP, Chief Financial Officer and Chief Administrative Officer. In January 2014, he was promoted to EVP, Chief Financial Officer and Chief Operating Officer.

Prior to joining the Company, Mr. Shore was employed by Wang’s International, a major importing and wholesale distribution company as Chief Financial Officer from 1989 to 2000, and in various financial management capacities with IPS Corp., and Caterpillar, Inc. from 1975 to 1989.

The Board of Directors names Michael K. Bloom Chief Executive Officer, effective August 29, 2016.

Mr. Bloom joined Fred’s as President and Chief Operating Officer in January 2015. Before joining Fred’s, he served as the President and Chief Operating Officer of Family Dollar Stores, Inc.

Prior to Family Dollar, Mr. Bloom spent more than 20 years with CVS Caremark Corporation, holding a variety of positions with increasing responsibilities in merchandising and operations and rising finally to Executive Vice President of Merchandising, Marketing, Advertising, and Supply Chain.

Before joining CVS, he spent 10 years in merchandising and operations management with Virginia-based Peoples Drug Stores and the Florida division of Toronto-based Shoppers Drug Mart Corporation.


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