Fred’s said Wednesday that Foley is slated to take over the post immediately and that Mike Holligan, who formerly served in the role, will move to an open position of regional vice president of store operations.
The discount retailer noted that Foley brings to more than 30 years of retail drug chain experience. Most recently, he served for five years as corporate operations vice president at Walgreens, overseeing the Eastern division, which last year generated about $20 billion in sales from more than 2,500 retail pharmacies, health clinics and specialty pharmacy locations. Previously at Walgreens, he was operations vice president for seven years, a district manager for six years and a store manager for 11 years.
“We are excited about the experience that John Foley brings to our company,” Fred’s chief executive officer Jerry Shore said in a statement. “John’s addition will extend the momentum we have developed in store operations and will further strengthen the talent of our management team, one of the key steps we have outlined that will help position Fred’s to drive profitability and grow its convenience/pharmacy-centric model. We are grateful for the sacrifices and contributions Mike Holligan has made during this past year in leading all store operations.”
Overall, Fred’s operates 661 discount general merchandise stores, including 19 franchised stores, in 15 states in the Southeast. The company also has 384 in-store pharmacies and three specialty pharmacy locations.