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Staples CEO passes on pay increase as board evolves
Staples didn’t have a great year, so Chairman and CEO Ron Sargent won’t accept a $31,000 base pay raise the board of directors had previously approved.
The company announced that Sargent would not accept the 2.5% pay increase, along with several noteworthy governance moves, including the appointment of an independent chair when Sargent retires.
In other board moves, current director and former Toys “R” Us CEO Robert Nakasone is relinquishing his seat to make room for a Google executive.
