Fred’s, Inc. Names Heath Freeman Chairman of the Board
“Heath brings significant retail, turnaround, and financial expertise
and we determined that as Chairman, Heath will bring invaluable insights
and experience as the Company continues to execute its turnaround
Mr. Freeman commented, “I am pleased to assume the role of Chairman of the Fred’s Board. Fred’s has a strong platform and I look forward to continuing to work together with our Board members to support the management team as it executes the Company’s strategy to drive free cash flow and generate value for all shareholders.”
Mr. Bloom added, “On behalf of the Board of Directors, I want to thank Tom for his dedicated service and many contributions to Fred’s over the past 16 years. Our Board and management team have significantly benefited from Tom’s exemplary leadership and we wish him the best in his well-deserved retirement.”
Mr. Freeman was added to Fred’s Board on
Mr. Freeman is the President and a Founding Member, of
About Fred’s Pharmacy
Tracing its history back to an original store in
For more information about the Company, visit Fred’s website at www.fredsinc.com.
Comments in this news release that are not historical facts are
forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those projected in
the forward-looking statements. A reader can identify forward-looking
statements because they are not limited to historical facts or they use
such words as "outlook," "guidance," "may," "should," "could,"
"believe," "anticipate," "plan," "expect," "estimate," "forecast,"
"goal," "intend," "committed," "continue," or "will likely result" and
similar expressions that concern the Company's strategy, plans,
intentions or beliefs about future occurrences or results. These risks
and uncertainties include, but are not limited to, those associated with
the Company's announced strategic plan, the success of announced
acquisition activities and future growth trends in businesses acquired;
general economic trends; changes in consumer demand or purchase
patterns; delays or interruptions in the flow of merchandise between the
Company's distribution centers and its stores or between the Company's
suppliers and same; a disruption in the Company's data processing
services; cyber-security threats; costs and delays in acquiring or
developing new store sites; and the factors listed under "Risk Factors"
in the Company's most recent Annual Report on Form 10-K and any
subsequent quarterly filings on Form 10-Q filed with the
Source: Fred’s, Inc.
Jason Jenne, 901-238-2787
Executive Vice President, Chief Financial Officer
Joele Frank, Wilkinson Brimmer Katcher
Ed Trissel / Dan Moore, 212-355-4449