Fred’s Pharmacy Appoints Jason Jenne Chief Financial Officer
19 July 2017 - 11:10PM
Business Wire
Brings to the Role More than Two Decades of
Financial, Operating and Business Management Expertise
Will Support Fred’s Pharmacy’s Healthcare
Transformation
Fred’s, Inc. (“Fred’s Pharmacy” or the “Company”) (NASDAQ:FRED)
today announced the appointment of Jason Jenne as Executive Vice
President and Chief Financial Officer. Mr. Jenne succeeds Rick
Hans, who is stepping down from the Company to pursue other
opportunities. Mr. Hans will remain in an advisory capacity until
August 18, 2017 and will work closely with Mr. Jenne to ensure a
smooth transition. These changes are effective as of today.
Mr. Jenne joined Fred’s Pharmacy in September 2016 as Senior
Vice President, Finance. He is a Certified Public Accountant with
more than 25 years of operations and finance experience and has
held numerous executive leadership roles, most recently serving as
President and CEO of True Temper Sports, the leading manufacturer
of golf shafts in the world. He also served as True Temper Sports’
Chief Financial Officer and Chief Operating Officer.
In addition to leading financial and risk management across the
Company, Mr. Jenne will be responsible for ensuring that the
finance organization enables Fred’s Pharmacy to successfully
execute its healthcare transformation and capitalize on the
significant market opportunities ahead. These responsibilities
include oversight of cash flow, SG&A management and capital
allocation strategy. In addition to his financial and operational
acumen, Mr. Jenne has demonstrated a unique ability to navigate a
complex and competitive business environment, as well as manage a
transformation within the constantly evolving retail and healthcare
industries.
“Jason’s leadership experience and in-depth knowledge of finance
and operations ideally qualify him to be the next Chief Financial
Officer of Fred’s Pharmacy,” said Michael K. Bloom, Chief Executive
Officer. “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.”
“I am excited to have the opportunity to lead Fred’s Pharmacy’s
financial team at this important stage in the Company's
transformation,” said Mr. Jenne. “Fred’s is a company with
significant growth potential and a strong team in place to drive
shareholder value. I look forward to continuing to work closely
with Mike and the rest of the senior leadership to accelerate the
execution of the Company’s business plan.”
Mr. Bloom continued, “I want to thank Rick for his contributions
to Fred’s Pharmacy and for his commitment to facilitating a
seamless transition. We wish him all the best in his future
endeavors.”
About Jason Jenne
Prior to joining Fred’s Pharmacy, Mr. Jenne was Chief Executive
Officer and President of True Temper Sports, Inc. from 2014 to
2016. Previously, Mr. Jenne held a variety of other leadership and
financial roles during his 18 year tenure at True Temper Sports,
Inc., including serving as the company’s Chief Financial Officer
beginning in 2005 and in a dual role as Chief Financial &
Operating Officer beginning in 2013. Prior to True Temper Sports,
Inc., Mr. Jenne served in various managerial finance capacities
during a number of years at Emerson Electric. Mr. Jenne started his
career in public accounting at Scheffel Boyle. Mr. Jenne is a
Certified Public Accountant, and holds a Bachelor’s degree in
accounting and finance from Southern Illinois University,
Carbondale.
About Fred’s Pharmacy
Tracing its history back to an original store in Coldwater,
Mississippi, opened in 1947, today Fred’s Pharmacy is headquartered
in Memphis, Tennessee, and operates 601 pharmacy and general
merchandise stores, including 14 franchised Fred’s Pharmacy
locations, and three specialty pharmacy-only locations. With a
unique store format and strategy that combines the best elements of
a healthcare-focused drug store with a value-focused retailer,
Fred’s Pharmacy stores offer more than 12,000 frequently purchased
items that address the healthcare and everyday needs of its
customers and patients. This includes nationally recognized brands,
proprietary Fred’s Pharmacy label products, and a full range of
value-priced selections. The Company has two distribution centers,
one in Memphis, Tennessee, and Dublin, Georgia.
For more information about the Company, visit Fred’s website at
www.fredsinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170719005380/en/
Fred’s PharmacyJoele Frank, Wilkinson Brimmer KatcherEd Trissel
/ Dan Moore, 212-355-4449
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