Staples CEO Named Chairman of the Board

Framingham, Mass., Staples, Inc. has named Ron Sargent, its president and CEO since 2002, chairman of the board of directors. He will succeed Staples founder Tom Stemberg, who resigned from his post and will serve as chairman emeritus of the board. “In the past three years, Ron Sargent has stepped up to lead Staples to record performance,” said Tom Stemberg in a statement. “Under Ron’s leadership the company has delivered outstanding results for our customers, associates and shareholders. As I look to new ventures, the time is right for me to move on and for Ron to assume the role of chairman.”