Office Depot, LLC

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.  

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.    

Macy’s, Inc. has named Elisa D. Garcia as chief legal officer, effective Sept. 7, succeeding Dennis J. Broderick, who is retiring after 29 years.   Garcia, 58, has served in the same capacity for Office Depot since 2013. She was executive VP/general counsel for Domino’s Pizza prior to that.  

Kristin Campbell is executive VP and general counsel for Hilton Worldwide Holdings, but it’s her prior office supply retail experience that motivated Office Depot to proffer a seat on the board.   Prior to joining Hilton, Campbell spent 18 years at Staples, where she was most recently senior VP, general counsel and corporate secretary.  

Office Depot isn’t about to let its rivals get the better of it during one of its busiest times of the year.   The office-supply retailer plans to hire a total of 8,000 seasonal and regular associates for the back-to-school season, up 33%, or 2,000 associates, over last year.  

Office Depot Inc. is regrouping less than a month after a federal judge blocked the chain’s planned acquisition by rival Staples Inc., causing the two companies to abandon the deal.
 
On Tuesday, Office Depot announced its board had approved a $100 million stock buyback program. The retailer also said it is finalizing its comprehensive strategic review, which includes capital structure and return of capital alternatives.
 

The long-drawn out battle over the merger of Staples and Office Depot has claimed its first victim.

Staples chairman and CEO Ron Sargent will step down after the chain’s annual shareholders meeting on June 14. His exit comes just weeks after a federal judge struck down Staples’ proposed acquisition of rival Office Depot. http://www.chainstoreage.com/article/staples-and-office-depot-call-merger-wake-ruling
 

Supermarkets and fast-casual restaurant brands took the top positions in an annual ranking of customer experience.   Publix, Chick-fil-A, and H-E-B earned top three positions in Temkin Group’s 2017 Temkin Experience Ratings, a cross-industry benchmark of customer experience.     Publix had a score of 84%, closely followed by Chick-fil-A and H-E-B, which both scored 83% in the seventh annual rating.