Boca Raton, Fla. — Roland Smith plans to retire as chief executive officer of Office Depot, Inc. He will continue to serve as CEO until a successor is named, which is expected by the end of first quarter 2017. It is expected Smith will remain chairman of the board.
“Since joining Office Depot in November 2013, Roland has built and led a talented management team that has done an outstanding job of integrating Office Depot and OfficeMax, and delivered synergies and efficiencies that significantly exceeded expectations,” says Warren Bryant, lead director of the board of directors. “In addition, Roland and his team worked closely with the board to develop a clear and compelling 3-year strategic plan that positions the company for profitable growth. Roland has led the company to a position of solid standing, and we appreciate his ongoing leadership and commitment to Office Depot as we identify and transition to our next CEO.”
Office Depot plans to realign its executive committee to better align with the 3-year strategic plan unveiled by the company earlier this month. As part of that plan, Office Depot is consolidating its retail, contract, e-commerce and marketing operations to better serve customers in today’s omni-channel marketplace. These functions will now report to Troy Rice, who has been named to the newly-created position of chief operating officer, North America. Rice currently serves as Office Depot’s executive vice president, retail, where he successfully led the integration of the Office Depot and OfficeMax store operations, drove same-store sales improvements and significantly grew operating profit.
The company has also named Rob Koch to the newly-created position of executive vice president, business development. In this role, Koch will have substantial responsibility for rolling out Office Depot’s store of the future and the expansion of adjacency opportunities, including Jan-San. Koch is currently senior vice president, real estate, and will continue to oversee the company’s real estate portfolio, including leading Phase II of the retail optimization plan.
Rice and Koch will report to Mark Cosby, president, North America, until a new CEO is named, at which time the president and CEO roles will be consolidated and they will report directly to the CEO and serve on the company’s executive committee.
Office Depot, Inc. has approximately 1,800 retail stores. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy and Viking. For more information, visit http://news.officedepot.com.
SOURCE: Office Depot, Inc.