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Office Depot on the hunt for a CEO
Office Depot has joined Staples in the search for a new chief executive. Office Depot announced Monday that Roland Smith plans to retire as CEO of the company. In June, Staples CEO Ron Sargent stepped down and the chain is still looking for a successor. The resignations come several months after the merger between the two retailers was dropped over antitrust concerns. -
Office Depot closing 300 more stores; to expand ‘store of future’ pilot
Just three months after its proposed acquisition by Staples ran into regulatory roadblocks, Office Depot unveiled its plans for the future as a standalone retailer. In its second quarter financial filing, the chain announced it would close an additional 300 stores during the next three years, a move that is anticipated to help cut annual costs by some $250 million by the end of 2018. Office Depot is also planning to cut costs by reducing procurement and general and administrative costs.

