Former B/E Aerospace, Inc. Executive Joseph Lower to Replace Retiring
CFO Stephen Hare
BOCA RATON, Fla.--(BUSINESS WIRE)--Jan. 3, 2018--
Office Depot, Inc. (NASDAQ:ODP), a leading omnichannel
provider of business services, products and technology,
today announced the appointment of Joseph T. Lower as Executive Vice
President and Chief Financial Officer, effective January 8, 2018.
As CFO, Lower will report directly to Chief Executive Officer Gerry
Smith and be a member of the Executive Committee. He will be responsible
for overseeing all financial aspects of the company, including financial
planning and analysis, accounting and financial reporting, as well as
managing the tax, internal audit, treasury, and investor relations
“We are excited to have Joe join the company as we continue to transform
for the future,” said Smith. “His operational skills, business acumen
and financial markets experience will help us deliver value for our
shareholders. He will also play a key role in accelerating our efforts
to disrupt the market and challenge the traditional ways of thinking
about our core business.”
“Office Depot is in an exciting early stage of transforming from a
traditional provider of primarily office products into a broader product
and business services platform, and I’m honored to be joining the team
at this pivotal time,” said Lower. “The company has a strong balance
sheet and a willingness to reinvest to strengthen its core while
concurrently pursuing innovative opportunities to leverage its key
assets and disrupt traditional retail thinking.”
Lower most recently served as Vice President and Chief Financial Officer
at B/E Aerospace, Inc., where he oversaw all the financial reporting for
the company. Prior to joining B/E Aerospace, Inc. in 2014, Lower was
Vice President of Business Development and Strategy for The Boeing
Company, where he spent 12 years. Among other finance positions, Lower
spent six years with Credit Suisse in various investment banking roles
including positions in mergers and acquisitions, and corporate finance.
Lower holds a Master of Business Administration from the J.L. Kellogg
Graduate School of Management at Northwestern University and a Bachelor
of Arts in Finance from the Indiana University Kelley School of Business.
Lower succeeds Stephen E. Hare, Executive Vice President and Chief
Financial Officer, who is retiring after four years in the role. Hare
will assist in the transition of duties. “I want to thank Steve for his
leadership and contributions over his distinguished career and wish him
all the best in his retirement,” said Smith.
About Office Depot, Inc.
Office Depot, Inc. is a leading provider of office supplies, business
products and services delivered through an omnichannel platform.
The company had 2016 annual sales of approximately $11 billion, employed
approximately 38,000 associates, and served consumers and businesses in
North America and abroad with approximately 1,400 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – with a global network of wholly owned operations,
franchisees, licensees and alliance partners. The company operates under
several banner brands including Office Depot®, OfficeMax®, BizBox,
CompuCom®, Complete Office and Grand&Toy®. The company’s portfolio of
exclusive product brands include TUL®, Foray®, Brenton Studio®, Ativa®,
WorkPro®, Realspace® and Highmark®.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select
Market under the symbol “ODP.”
Office Depot, Foray, Ativa and Realspace are trademarks of The Office
Club, Inc. OfficeMax, TUL, Brenton Studio, WorkPro and Highmark are
trademarks of OMX, Inc. CompuCom is a trademark of CompuCom Systems,
Inc. and Complete Office is a trademark of Complete Office Solutions,
LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2018
Office Depot, Inc. All rights reserved. Any other product
or company names mentioned herein are the trademarks of their respective
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Source: Office Depot, Inc.
Office Depot, Inc.
Danny Jovic, 561-438-1594