Fred’s names Efird to be CEO

MEMPHIS, Tenn. Discount retailer Fred’s last week promoted its president Bruce Efird, adding the role of chief executive officer effective Feb. 1, which kicks off Fred’s next fiscal year.

Efird, who will retain the title of president and remains a director of the company, will succeed Michael Hayes, who will remain Fred’s chairman.

“We are excited to announce this next step in our plan to provide new leadership at Fred’s and lay the groundwork for an orderly transition over the next two months,” Hayes said. “When Bruce joined Fred’s as president in September 2007, he brought to the company a wealth of experience in merchandising, marketing and management from various retail venues. Over the last 15 months, he has applied these skills creatively in helping conceptualize, develop and implement one of the most significant and far-reaching strategic plans in the company’s history.”

Prior to joining Fred’s, Efird was executive vice president-merchandising for Meijer, a leading grocery retailer in the Midwest that fields more than $13 billion in sales. Prior to that, Efird held management positions with Bruno's Supermarkets and Food Lion.