Fred’s Inc. on Wednesday announced the appointment of Jason Jenne as EVP and CFO, succeeding Rick Hans, who is stepping down to pursue other opportunities.
Hans will remain in an advisory capacity until Aug. 18, and will work closely with Jenne to ensure a smooth transition.
Memphis-based Fred’s, which operates 601 discount general stores with pharmacy, is in the midst of transforming to a healthcare focus. It recently lost out on the opportunity to acquire hundreds of Rite Aid locations proposed to be divested in the Walgreens-Rite Aid merger when Walgreens reconfigured the deal.
Jenne (left) joined Fred’s in September 2016 as SVP of finance. He is a Certified Public Accountant with more than 25 years of operations and finance experience, most recently serving as president and CEO of True Temper Sports, a leading golf club shaft manufacturer. He also served as True Temper’s CFO and COO.
“Jason’s leadership experience and in-depth knowledge of finance and operations ideally qualify him to be the next CFO of Fred’s Pharmacy,” Michael K. Bloom, CEO, said. “Jason is an integral member of our leadership team and over the past year he and I have worked closely together as we navigated the proposed Rite Aid transaction, implemented a new healthcare strategy and pursued additional growth opportunities for Fred’s Pharmacy. As we execute our plan, Jason’s strategic insight and financial expertise will be invaluable in our ongoing efforts to improve performance and create shareholder value.”