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Former Delhaize CEO to lead the new Office Depot
Less than a week after Office Depot and Officemax consummated their merger, the combined companies have a new chairman and CEO in former Delhaize America CEO Roland Smith.
In conjunction with the appointment of Smith, who also previously served as CEO of Wendy’s, the two CEOs of Office Depot and OfficeMax who were serving as co-CEOs of the combined company both resigned. Neil Austrian served as CEO of Office Depot and Ravi Saligram served as CEO of OfficeMax prior to the merger.
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Sears Canada to sell stake in eight properties
New York -- Sears Canada announced that it has reached a definitive agreement to sell its 50% joint venture interest in eight properties it owns to Montez Income Properties Corp. for approximately $300 million (C$315 million). Sears’ joint venture partner in the properties is The Westcliff Group of Companies.
The company said it will sell its interests in four regional shopping centers, two strip centers and two open-air retail centers.