Staples President of North American Stores to Leave
January 25 2016 - 6:00PM
Dow Jones News
Staples Inc. said its president of North American stores, Demos
Pareros, has resigned, effective March 31, amid a broader
reshuffling of executives at the office-supply chain.
The company said the changes are aimed at streamlining the
organization and speeding up decision-making. The moves come as
Staples has been g rappling with U.S. antitrust regulators over its
agreed-upon merger with Office Depot Inc.
"These changes will help us compete in a rapidly evolving
marketplace, either as a stand-alone company or in combination with
Office Depot," Chief Executive Ron Sargent said. The companies last
week said they plan to extend the deadline for their tie-up by
about three months.
Staples didn't give a reason for the departure of Mr. Pareros, a
company veteran of nearly 30 years. A call seeking further comment
wasn't returned.
The company said Otis Pannell, senior vice president of U.S.
retail operations, will oversee the division. Mr. Pannell was hired
by the company in 1989.
In other moves, Staples said Shira Goodman was shifting to the
role of president of North American operations from her previous
role as president of North American Commercial. Ms. Goodman joined
Staples in 1992, filling several senior positions including
strategy, marketing and operations.
Additionally, John Wilson, currently president of Staples
Europe, will become president of international operations and
transformation. Mr. Wilson served as chief financial officer from
1992 to 1996 before rejoining the company in 2012.
Staples agreed to buy Office Depot in February in a
cash-and-stock deal worth $6.3 billion at the time. The Federal
Trade Commission filed a lawsuit in December to block the deal,
arguing that a tie-up of the last large national office-supply
chains would eliminate important competition. Court proceedings are
expected to begin in March.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
January 25, 2016 17:45 ET (22:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jun 2024 to Jul 2024
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jul 2023 to Jul 2024