Fred’s CEO Resigns

Fred’s CEO, Michael Bloom, has resigned to pursue other opportunities.

Joseph Anto, the company’s current evp/chief financial officer and secretary, will serve as interim CEO, effective as of April 24. He has served as CFO since February 2018, and also served as a consultant to the company from July 2017 to February 2018.

Bloom also resigned from the company’s board of directors. His resignation was not the result of any disagreement with the company or its operations, according to Fred’s.

Heath Freeman, chairman of the board, Fred’s, said, “The board is appreciative for Mike’s contributions, dedication and service. Mike joined Fred’s with significant experience with retail drug stores. After the company was not able to purchase certain assets from the Rite Aid Corporation and following the end of the 2017 fiscal year, the timing was right, both for Mike and the company, for him to step down. We wish him the very best. The Fred’s board is confident that Anto will serve the company well as interim CEO.”