-
Office Depot shareholder redoubles efforts to change board
New York -- Investment firm Starboard Value, Office Depot’s largest stockholder with a 14.8% stake, revealed Monday it has delivered a letter to the office supply retailer’s board of directors, expressing “strong disappointment at the board's failure to work constructively with Starboard to reconstitute the board.”
In March, Starboard nominated six candidates, including former Home Depot chief Robert Nardelli – to Office Depot’s board in an effort to strengthen the company’s direction.
-
J.C. Penney selling Martha Stewart-designed goods while court battle rages
New York -- A Monday report by Reuters said that J.C. Penney has begun selling the Martha Stewart “JCP Everyday” lines of home goods, without waiting for a decision from the New York court.
According to Reuters, Penney general merchandise manager Paul Rutenis testified in New York State Supreme Court on Monday that "as of today, those products are on the floor and online."