OfficeMax Announces Resignation of Ward W. Woods From Board of Directors
December 09 2005 - 4:05PM
PR Newswire (US)
ITASCA, Ill., Dec. 9 /PRNewswire-FirstCall/ -- OfficeMax(R)
Incorporated (NYSE:OMX), a leader in office products and services,
today announced that Ward W. Woods, a board member since 1992, will
resign from the company's Board of Directors effective December 31.
Mr. Woods, who is also a director of Bessemer Securities, LLC,
Bessemer Trust Co., and several other private companies, resigned
to focus on his other professional obligations. "We appreciate
Ward's dedicated service to the board for the past 13 years," said
Sam Duncan, Chairman and Chief Executive Officer of OfficeMax. "The
board has benefited from Ward's financial and business expertise
and experience, and his commitment and insight." Mr. Woods said, "I
have enjoyed working with the OfficeMax board of directors and
management, and wish them all continued success in their efforts."
Mr. Woods was president and chief executive officer of Bessemer
Securities, LLC, a privately held investment company, from 1989
until his retirement in 2000. Mr. Woods is the founding partner of
Bessemer Holdings, L.P., a private equity firm, as well as various
affiliated investment partnerships. On the OfficeMax board of
directors, Mr. Woods served as Chair of the Committee of Outside
Directors and Lead Independent Director, and as a member of the
Executive Compensation Committee and the Executive Committee. The
board has appointed Gary G. Michael, who joined the OfficeMax Board
of Directors in 1997, to fill Mr. Woods' position as Chair of the
Committee of Outside Directors and Lead Independent Director. Mr.
Woods' board term would have expired in 2008. The vacancy created
by Mr. Woods' resignation will not be filled and the OfficeMax
board size has been reduced from 13 members to 12. All of the
remaining directors are independent, except for Mr. Duncan who also
serves as OfficeMax's chief executive officer. About OfficeMax
OfficeMax is a leader in both business-to-business and retail
office products distribution. OfficeMax delivers an unparalleled
customer experience -- in service, in product, in time savings, and
in value - through a relentless focus on its customers. The company
provides office supplies and paper, print and document services,
technology products and solutions, and furniture to large, medium
and small businesses and consumers. OfficeMax customers are served
by approximately 40,000 associates through direct sales, catalogs,
Internet and approximately 950 superstores. OfficeMax trades on the
New York Stock Exchange under the symbol OMX. More information can
be found at http://www.officemax.com/ . OfficeMax Media Contact
OfficeMax Investor Relations Contact Bill Bonner John Jennings 630
438 8584 630 438 8760 DATASOURCE: OfficeMax Incorporated CONTACT:
Media, Bill Bonner, +1-630-438-8584, or Investor Relations, John
Jennings, +1-630-438-8760, both of OfficeMax Incorporated Web site:
http://www.officemax.com/
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