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
appointment of Michael A. Steele as Vice President, Investor
Relations, effective immediately. Steele reports to Stephen E.
Hare, Executive Vice President and Chief Financial Officer.
Steele will develop and execute Office Depot’s investor
relations strategy, serving as the primary interface for management
with the financial community. He plans to relocate to the Office
Depot corporate headquarters in Boca Raton in the coming
months.
Rich Leland, having led both treasury and investor relations for
Office Depot since April 2013, will continue as Vice President
Finance and Treasurer, assuming additional key responsibilities in
an expanded role.
Steele most recently served as Vice President, Investor
Relations for OfficeMax Incorporated, where he had been employed
since July 2007. Previously, he worked at The ServiceMaster
Company, a residential and commercial service network, in various
corporate finance roles including financial planning, treasury, and
mergers and acquisitions. Early in his career, he held financial
roles in the telecommunications industry and banking.
“As we work to integrate Office Depot and OfficeMax, clear and
effective communication with our investors and the financial
community is essential,” said Steve Hare. “We are excited about the
depth of experience and expertise that Mike brings to this role,
particularly the relationships that he has formed while at
OfficeMax.”
Steele, 41, is a CFA charterholder and graduated with an MBA
from Loyola University Chicago and with a BS from Northern Illinois
University. He has been an active member of the Senior Roundtable
of the National Investor Relations Institute (NIRI), and is a
former board member of NIRI’s Chicago chapter.
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.Investor RelationsMike Steele,
561-438-3657Michael.Steele@officedepot.comorMedia RelationsBrian
Levine, 561-438-2895Brian.Levine@officedepot.com
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