Olshan client Alden Global has reached an agreement with Fred’s, Inc. for two board seats.
Fred’s, Inc., together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies.
Pursuant to the agreement Steven Rossi, CEO of Digital First Media, and Timothy Barton, former CEO of Freightquote.com, will be appointed to Fred’s board and following the 2017 annual meeting eight of the nine directors on the newly reconstituted board will be independent.
Steve Wolosky (Picture), Andrew Freedman, Meagan Reda and Bachar Mahmoud represent Alden Global in connection with its investment in Fred’s.
Law Firms: Olshan Frome Wolosky LLP;
Clients: Alden Global Capital LLC;