Michael Bloom
President, Chief Executive Officer, Director
Management
Freds Inc
United States of America
Biography
Mr. Michael K. Bloom serves as President, Chief Executive Officer, Director of the Company. He was Chief Operating Officer of the Company. Mike Bloom, who was appointed CEO of Fred's Pharmacy on August 29, 2016, brings to the Board more than 30 years of experience in small-box retail pharmacy, general merchandising, marketing, supply chain and store operations. Prior to joining Fred's, Bloom served as the President and Chief Operating Officer of Family Dollar Stores, Inc. and spent more than 20 years with CVS Caremark Corporation, holding a variety of positions with increasing responsibilities in merchandising, marketing, supply chain and store operations, and rising finally to Executive Vice President of Merchandising, Visual Merchandising, Marketing, Store Brand, Advertising and Supply Chain. Bloom has substantial acquisition and integration experience from his time at CVS Pharmacy, where he was involved in the acquisitions of Peoples Drug Stores, Revco, Eckerd Corp., Arbor Drugs and Longs. As CEO of Fred's, Bloom assembled a strong new leadership team that has led the development of the growth plan referred to as Optimize, Focus and Growth with Discipline. The key components include optimizing Fred's portfolio of stores, growing retail pharmacy scripts, expanding into healthcare services, expanding the specialty pharmacy portfolio of drugs and delivering leaner and more cost effective results in both pharmacy and front of store. Since Bloom became CEO, Fred's Pharmacy's has generated a 29% Shareholder Return. 2 Bloom played a vital role in Fred's being selected by Walgreen's Boots Alliance, Inc. as the acquirer of the previously announced transaction under which Fred's will acquire 865 divested stores, pending FTC approval. Since becoming CEO, Bloom has increased emphasis on both retail and specialty pharmacy growth as a priority, which have been catalysts for growth at Fred's.
Research Interest
Small-box retail pharmacy, general merchandising, marketing, supply chain and store operations
