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Office Depot, Inc. (NYSE:ODP) names Roland Smith as its new CEO

Boston, MA, 11/15/2013 – The second largest retailer of office supplies in the U.S Office Depot, Inc. (NYSE:ODP) has named Roland Smith as its new chief on Tuesday. Smith is widely known for his expertise in turning around companies was earlier heading Delhaize Group.

At his earlier job he had led the integration process of the supermarket chains owned by the company and also for selling three of the chains. He was also responsible for the mergers of Wendy’s and Arby’s. He was responsible for  the turning around of the operations of American Golf Corporation and AMF.

The news of the new appointment came a week after the company successfully closed the deal to buy out its competitor OfficeMax Inc. A agreement that is seen by many as a move to trim costs, strengthen the stores, improve their clout with the people supplying them and better their chances of competing with the market topper Staples and taking on internet and discount competitors.

Neil Austrian who was the company’s CEO and Ravi Saligram who was the CEO of OfficeMax before the deal was signed and had become the Co-CEO’s of the merged company have quit their posts, the company stated in a statement.

In other new the company has announced that it for the first time will be expanding its holiday timings. Most of its stores on Thanksgiving Day will be open from 8 p.m. to 11 pm and on black Friday the stores will open at 8 am.

Clients will be able to benefit from excellent sales that will be available at the stores as well as the internet. The deals for Black Friday will be available the whole day on its website Thursday, November 28, and will start at midnight EST.

Bob Moore, Executive Vice President and Chief Marketing and Merchandising Officer for Office Depot, stated that the company understood that customers wanted flexible times while shopping and wanted sales on Black Friday. The company will sell several gift able goods like tablets, laptops, printers and headphones.

Published by Donna Fago

I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at recently due to my passion for the markets.

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