Office Depot, Inc. (NYSE: ODP), a leading global provider
of office products, services, and solutions formed by the
merger of Office Depot and OfficeMax, today announced the formation
of its Executive Committee (EC) and Leadership Team (LT).
“Since I joined the Company last month, my priorities have been
to name a headquarters location and select a leadership team that
incorporates the best talent from both companies and also adds
fresh perspective from the outside,” said Roland Smith, Chairman
and CEO of Office Depot, Inc. “Last week we named Boca Raton as our
corporate headquarters. Today, I am sharing the Company’s new
organizational structure which focuses on accountability and
streamlined decision making. I believe this approach provides the
best foundation to execute the merger synergies and transformation
strategy for long-term growth.”
The following positions make up the Executive Committee and
report to Smith:
- President, North America. This
position will be responsible for managing the following functions:
Retail, Contract Sales, E-Commerce, Merchandising, Marketing, Real
Estate and Supply Chain. The Company will commence an external
search for a seasoned executive to fill this role. In the meantime,
this position’s direct reports will report directly to Smith.
- Steve Schmidt is President,
International. This position, which ultimately will be based in
Europe, manages the Company’s international businesses in Europe,
Asia, New Zealand, Australia and Mexico. Schmidt will not be
relocating, but will stay on board for up to a year and continue to
lead the European transformation, grow our international business
and find his successor.
- Steve Hare is the Executive Vice
President & Chief Financial Officer. He is responsible for
the oversight of all financial aspects of the Company, including
Financial Planning, and Accounting and Control. He also manages
Treasury and Investor Relations as well as the Internal Audit and
Tax functions. Additionally, he oversees Information Technology and
the Integration Office.
- Michael Allison is the Executive
Vice President & Chief People Officer. He has global
responsibility for all Human Resources functions, including
Compensation and Benefits, Talent Management, Associate Relations,
Organizational Development & Training, and Diversity &
Inclusion. Additionally, the Communications function reports to
him.
- Elisa Garcia is the Executive Vice
President & Chief Legal Officer. She is responsible for
managing Legal, Regulatory, Compliance and Government Affairs
worldwide as well as the Loss Prevention function. She also serves
as general counsel and secretary for the organization.
- Chief Strategy and Innovation
Officer. The Company will begin an immediate search to fill
this position which will drive strategy and lead efforts to develop
and prioritize key business initiatives. Investing in this newly
created role is an important part of defining the future of the
organization and exploring opportunities for top-line growth and
innovation.
“In selecting my Executive Committee, I am bringing together top
performers and trusted advisors to help shape the strategic
decisions that impact our global business,” Smith said. “The team
offers a breadth of experience across a range of environments and
the ability to create new ideas, drive innovation, generate
improvements and execute flawlessly. As we round out this group, I
am confident that we have the personalities, talent and skills to
transform and build our organization.”
In addition to the Executive Committee, Smith has created a
newly formed Leadership Team, which includes members of the EC and
executives who report to the President of North America and the
Chief Financial Officer. These executives are:
- Executive Vice President of
Retail. This position is responsible for managing the retail
stores organization. It will set strategic direction to grow
profitable sales while developing an omni-channel shopping
experience aimed at increasing share of wallet. The Company will
conduct an outside search to fill this position. Juan
Guerrero, currently Senior Vice President of Retail for legacy
Office Depot, will act as interim head of Retail during the search
process and will be a candidate for this role.
- Steve Calkins is the Executive Vice
President of Contract Sales. He manages the Company’s North
American field sales organization which services small, medium and
large businesses, education and government customers, and Canadian
operations. He is responsible for setting strategic direction to
grow profitable sales across customer segments and vertical
markets, including developing innovative solutions designed to
expand the customer relationship.
- Executive Vice President of
E-Commerce. This position manages all North American websites
for our direct-to-consumer and online business customers. It will
also set strategic direction to grow profitable sales while
developing an omni-channel shopping experience aimed at increasing
share of wallet. The Company will conduct an outside search to fill
this position. Mike Kirschner, currently Senior Vice
President of E-Commerce for legacy Office Depot, will act as
interim head of E-Commerce and will be a candidate for this
role.
- Ron Lalla is Executive Vice
President of Merchandising. He is responsible for defining the
overall Merchandising category and assortment strategy and
strengthening market position and brand recognition through
innovative product development and strategic vendor
relationships.
- Tim Rea is Executive Vice President
of Marketing. He is responsible for driving the development and
implementation of strategic marketing activities that build brand
loyalty and increase market share across North America.
- Larry Hartley is Senior Vice
President of Supply Chain. He is responsible for delivering
best-in-class supply chain support. This includes driving
continuous improvement and process standardization across the
Company’s distribution network to optimize transportation services
and inventory levels, while ensuring timely and affordable
fulfillment.
- Rob Koch is Senior Vice President of
Real Estate. He leads the development of the Company’s real
estate strategy. This includes the lease management, construction
and architecture of all new, relocating, reformatted or closing
stores.
- Todd Hale is Senior Vice President
& Global Chief Information Officer. He defines the
Company’s IT architecture, oversees IT projects and manages
portfolio decisions. Hale also is responsible for planning and
developing applications supporting business operations and ensuring
the security of IT systems and processes.
- Deb O’Connor is Senior Vice
President of Integration. She will oversee the successful
integration of legacy Office Depot and legacy OfficeMax to ensure
the achievement of synergies in an effective and efficient
manner.
“With the executive team nearing completion, we will now move
quickly to select the best talent available from both legacy
companies to build a world class organization focused on exceeding
the expectations of consumers and businesses, becoming a more
appealing partner to our vendors, and ultimately driving value for
our shareholders,” Smith said.
“In launching this new structure and through the integration
process, a number of very talented and well-respected executives
are leaving our Company,” Smith noted. “I would like to thank them
all for their leadership during this critical time and wish them
well in their future endeavors.”
About Office Depot, Inc.
Formed by the merger of Office Depot and OfficeMax, Office
Depot, Inc. is a leading global provider of products, services, and
solutions for every workplace – whether your workplace is an
office, home, school, or car.
Office Depot, Inc. is a resource and a catalyst to help
customers work better. We are a single source for everything
customers need to be more productive, including the latest
technology, core office supplies, print and document services,
business services, facilities products, furniture, and school
essentials.
The company has combined annual sales of approximately $17
billion, employs about 66,000 associates, and serves consumers and
businesses in 59 countries with more than 2,200 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – all delivered through a global network of
wholly owned operations, joint ventures, franchisees, licensees and
alliance partners. The company’s portfolio of leading brands
includes Office Depot, OfficeMax, OfficeMax Grand & Toy,
Viking, Ativa, TUL, Foray, and DiVOGA.
Office Depot, Inc.’s common stock is listed on the New York
Stock Exchange under the symbol ODP. Additional press information
can be found at: http://news.officedepot.com.
Additional information about the recently completed merger of
Office Depot and OfficeMax can be found
at http://officedepotmaxmerger.com.
All trademarks, service marks and trade names of Office Depot,
Inc. and OfficeMax Incorporated used herein are trademarks or
registered trademarks of Office Depot, Inc. and OfficeMax
Incorporated, respectively. Any other product or company names
mentioned herein are the trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS
This communication may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements or disclosures may discuss goals, intentions
and expectations as to future trends, plans, events, results of
operations or financial condition, or state other information
relating to, among other things, the Company, the merger and other
transactions contemplated by the merger agreement, based on current
beliefs and assumptions made by, and information currently
available to, management. Forward-looking statements generally will
be accompanied by words such as “anticipate,” “believe,” “plan,”
“could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,”
“may,” “possible,” “potential,” “predict,” “project,” “propose” or
other similar words, phrases or expressions, or other variations of
such words. These forward-looking statements are subject to various
risks and uncertainties, many of which are outside of the Company’s
control. There can be no assurances that the Company will realize
these expectations or that these beliefs will prove correct, and
therefore investors and shareholders should not place undue
reliance on such statements.
Factors that could cause actual results to differ materially
from those in the forward-looking statements include adverse
regulatory decisions; the risks that the combined company will not
realize the estimated accretive effects of the merger or the
estimated cost savings and synergies; the businesses of Office
Depot and OfficeMax may not be integrated successfully or such
integration may take longer, be more difficult, time-consuming or
costly to accomplish than expected; the business disruption
following the merger, including adverse effects on employee
retention; the combined company’s ability to maintain its long-term
credit rating; unanticipated changes in the markets for the
combined company’s business segments; unanticipated downturns in
business relationships with customers; competitive pressures on the
combined company’s sales and pricing; increases in the cost of
material, energy and other production costs, or unexpected costs
that cannot be recouped in product pricing; the introduction of
competing technologies; unexpected technical or marketing
difficulties; unexpected claims, charges, litigation or dispute
resolutions; new laws and governmental regulations. The foregoing
list of factors is not exhaustive. Investors and shareholders
should carefully consider the foregoing factors and the other risks
and uncertainties described in Office Depot’s and OfficeMax’s
Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q
filed with the Securities and Exchange Commission. The combined
company does not assume any obligation to update or revise any
forward-looking statements.
Office Depot, Inc.Brian Levine, 561-438-2895Media
RelationsBrian.Levine@officedepot.comorKaren Denning,
630-864-6050Media Relationskarendenning@officemax.com orRich
Leland, 561-438-3796Investor
RelationsRichard.Leland@officedepot.comorMike Steele,
630-864-6826Investor Relationsmichaelsteele@officemax.com
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