Bateman, Colligan, Fife, Mason and Svider will not Seek Appointment
to Merged Company Board
BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 5, 2013--
Office Depot, Inc. (NYSE: ODP), a leading global provider of office
supplies and services, today announced the departure of five directors
who informed the Company that they would not seek to be appointed to the
new Board of Directors following the proposed merger of Office Depot,
Inc. and OfficeMax Incorporated.
Kathleen Mason joined the Office Depot Board in 2006. Justin Bateman and
Raymond Svider were appointed to the Board in 2009. Tom Colligan served
on the Board since 2010, and Eugene Fife was elected to the Board in
2012. The departure is expected to be effective today at the time of
closing of the merger with OfficeMax.
Neil Austrian, Chairman and Chief Executive Officer of Office Depot,
stated, “Each of these Board members was instrumental in guiding the
Company through a period of difficult economic conditions as well as
executing two of the Company’s largest value creation opportunities –
the sale of our stake in the Mexican joint venture and our historic
merger with OfficeMax. On behalf of the Company, I thank each of them
for their leadership and wish them much success in their future
About Office Depot
Office Depot provides office supplies and services through more than
1,300 worldwide retail stores, a field sales force, top-rated catalogs
and e-commerce operations, all delivered through a global network of
wholly owned operations, licensees, franchisees and alliance partners.
Office Depot has annual sales of approximately $10.7 billion, employs
about 38,000 associates and serves customers in 59 countries around the
Office Depot’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.
Source: Office Depot, Inc.
Office Depot, Inc.
Brian Levine, 561-438-2895