OfficeMax CEO to retire in 2011

Naperville, Ill. OfficeMax said Thursday its chairman and chief executive will retire early next year and the office-supply retailer plans to launch a national search for a new CEO.

Sam Duncan has been chief executive since 2005. He plans to retire on Feb. 28, 2011, and also will step down from the board at that time.

The company said it will consider both internal and outside candidates for his replacement. Duncan has agreed to stay on until a successor is in place.