Fred's Pharmacy names new CFO
Fred's Pharmacy has added more financial, transactional and business development experience to its C-suite.
The company announced that Joseph Anto has been named Executive Vice President and Chief Financial Officer, effective immediately.
As CFO, Anto will be responsible for leading Fred’s in its financial and risk management, information technology and real estate strategy.
“We are pleased to welcome Joe to the Fred’s team full time,” said Michael K. Bloom, Chief Executive Officer. “Joe’s experience and expertise is invaluable as we continue to implement our strategic initiatives to drive increased traffic and comp sales, reduce SG&A, generate free cash flow and optimize our balance sheet. Joe is a proven financial and business development executive, and brings a diverse set of skills and experience that will help position Fred’s for long-term success.”
Anto succeeds Jason Jenne, who is leaving the company. Jenne will remain in an advisory capacity until Feb. 26, and will continue to work closely with Anto to ensure a smooth transition.
Anto brings more than 15 years of finance, M&A and business development experience to Fred’s. Previously, he served as Senior Vice President of Strategy and M&A at MediaNews Group, Inc. (d/b/a Digital First Media), one of the largest newspaper companies in the U.S., where he has served in various capacities since 2013. At MediaNews Group, Anto played an instrumental role in various initiatives focused on driving digital revenue and reducing expenses across the organization. He also helped lead MediaNews Group’s M&A and investing activities. Additionally, he brings to the role knowledge of and experience with Fred’s, as he has been working with Fred’s in a consulting capacity over the past seven months.
Fred's Pharmacy operates approximately 600 general merchandise and pharmacy stores, including 13 franchised locations, and three specialty pharmacy-only locations.