Fred’s Names New CEO

Memphis, Tenn. Fred's Inc. Thursday announced the promotion of president Bruce A. Efird, 49, to CEO effective at the commencement of the company's next fiscal year, Feb. 1.

Efird, who will retain the title of president and remains a director of the company, will succeed Michael J. Hayes, 67, who will continue as chairman of the board of directors.

Prior to joining Fred's in 2007, Efird was executive VP-merchandising for Meijer, Inc.