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Office Depot Recognized as a Top Company for Female Professionals by National Association for Female Executives (NAFE)

DELRAY BEACH, Fla.--(BUSINESS WIRE)--March 28, 2007--Office Depot (NYSE:ODP), a leading global provider of office products and services, was recognized by the National Association for Female Executives (NAFE) as among the nation's top companies for female professionals. In celebration of its 35th anniversary, NAFE released the 2007 list of 35 trailblazers changing the face of executive suites and boardrooms across the country.

According to Betty Spence, Ph.D., president of NAFE, companies were recognized for the promotion of women to top functions, specifically those with profit and loss responsibility. "NAFE honors companies that are promoting women and redefining the corporate landscape," Spence said, "because they're avatars in leveraging their valuable female talent -- the competitive advantage of our nation."

In addition to appearing on the prestigious NAFE list, Office Depot was applauded by NAFE for the company's commitment to women in the areas of female presence, compensation, advancement and work/life. This is Office Depot's third year on NAFE's prestigious list.

Office Depot has a history of commitment to women in business:

  • Four of Office Depot's eight Executive Officers are female, including: Pat McKay, EVP and CFO; Cindy Campbell, EVP, Business Solutions Division; Monica Luechtefeld, EVP, Business Development, Supply Chain and IT; and Daisy Vanderlinde, EVP, Human Resources;


  • Four members of Office Depot's Board of Directors are female;


  • Office Depot established a Women's Steering Committee, which works with female associates by involving them in women's business professional development and educational seminars and offering membership discounts to women's business associations;


  • Office Depot hosts an annual Success Strategies for Businesswomen Conference - now in its seventh year - which provides female professionals and business owners the chance to network with, learn from, and educate their peers; and


  • Office Depot partners with leading women's business associations and offers valuable resources, including an e-Newsletter, the Worklife Customer Loyalty Program, an Online Business Center and a Web Seminar Series.

"We are extremely proud to be included on NAFE's list of Top Companies for female executives to work for," said Steve Odland, Chairman and CEO of Office Depot. "Office Depot consistently focuses on the success of both our female customers and our female associates and we take our role as a leader very seriously."

For a complete listing of the 2007 NAFE Top Companies for Executive Women, visit: http://www.nafe.com/pr_top30_07.php.

Methodology

NAFE looked beyond corporate programs and policies purportedly dedicated to advancing women to results, examining the number of women in each company overall, in senior management, and on its board of directors. To be named to the NAFE Top Companies for Executive Women, companies with a minimum of two women on the board completed a comprehensive application that focused on the number of women in senior ranks (compared to men and to the company population), including questions about the programs and policies which support women's advancement.

About NAFE

The National Association for Female Executives (NAFE), founded in 1972, is the largest women's professional and business association in the country. It publishes NAFE Magazine, a bi-monthly publication distributed to 65,000 members. NAFE began conducting the Top 30 Companies for Executive Women in 2002, picking up the work of Working Woman magazine. NAFE is part of Working Mother Media, which also operates Working Mother magazine, the annual 100 Best WorkLife Conference, and recently launched the new initiative the Best Companies for Women of Color.

About Office Depot

Office Depot provides more office products and services to more customers in more countries than any other company.

Incorporated in 1986 and headquartered in Delray Beach, Fla., Office Depot has annual sales of over $15 billion, and employs approximately 52,000 associates around the world. Currently, the Company sells to customers directly or through affiliates in 42 countries.

Office Depot is a leader in every distribution channel - from retail stores and contract delivery to catalogs and e-commerce. As of December 30, 2006, Office Depot had 1,158 retail stores in North America and another 348 stores, either company-owned, licensed or franchised, in other parts of the world. Office Depot serves a wide range of customers through a dedicated sales force, telephone account managers, direct mail offerings, and multiple web sites. With $4.3 billion in online sales during the last twelve months, the Company is also one of the world's largest e-commerce retailers.

Office Depot's common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.

CONTACT: Office Depot, Delray Beach
Melissa Perlman, 561-438-0704
Melissa.Perlman@officedepot.com
or
The Rosen Group
Kate Fleming, 212-255-8455
kate@rosengrouppr.com

SOURCE: Office Depot





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