Fred’s promotes CFO to CEO

Memphis, Tenn. --Fred's Inc. named Jerry Shore as its next CEO. Shore has served as the company's executive VP and CFO for more than 14 years. He assumed the additional title of COO in Jan. 2014.



Shore's promotion follows follows notification by current CEO Bruce A. Efird of his intention to leave Fred’s upon the expiration of his contract.



In connection with the change in Fred's leadership, the company promoted VP and controller Sherri Tagg to the position of chief accounting officer.



Fred's is with an executive search firm to fill the vacant position of president and COO.



"The board's decision...to name Jerry as our new CEO was made in recognition of his accomplishments in guiding the fiscal management of the Company and, more recently, his notable contributions as COO to the operational and strategic aspects of our business," stated Michael Hayes, Fred's chairman. "In addition to these skills, Jerry has an intimate knowledge of the company’s business and personnel, and he possesses the vision and strategy needed to transition Fred's to the convenience/pharmacy-centric model," he said.



Fred's operates 701 discount stores in the southeastern United States.