Former Family Dollar COO named president and COO of Fred's

Memphis -- Discount general merchandise chain Fred’s has named Michael K. Bloom as its president and COO, effective immediately. Until recently, Bloom held the same position at Family Dollar Stores Inc.; he resigned in early January after just over two years in the position and could be owed as much as $4.8 million in severance by Family Dollar, according to an SEC filing.



Bloom brings to Fred's more than 30 years of experience in small-box general merchandising, supply chain management and store operations. Prior to Family Dollar, he spent more than 20 years with CVS Caremark, rising to the position of executive VP of merchandising, marketing, advertising, and supply chain.



"The hiring of Mike Bloom as president and COOO and the recent naming of a new CEO and a new general merchandise manager form the nucleus of a team that will bring greater innovation, improved strategic execution and renewed dedication to drive growth for Fred's for many years to come," said Fred's Chairman Michael J. Hayes.



CEO Jerry A. Shore was named to the position last October, promoted internally from CFO and executive VP.