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Fred's taps M&A, business development specialist as CFO

General merchandise store operator Fred's Inc. said Feb. 1 that it has appointed Joseph Anto as executive vice president and CFO, effective immediately.

Anto will be in charge of financial and risk management, information technology, and real estate strategy. He will succeed Jason Jenne, who will be leaving Fred's but will remain in an advisory capacity until Feb. 26.

Anto brings more than 15 years of finance, M&A and business development experience to Fred's, the company said. Prior to his appointment, Anto was the senior vice president of strategy and M&A at publishing firm MediaNews Group Inc.

Fred's said Dec. 6 that it is exploring strategic options for certain of its noncore assets. The proposed move includes Fred's real estate holdings and the specialty pharmacy business.

Anto has been working with Fred's in a consulting capacity over the past seven months.