Roland C. Smith Appointed Chairman and CEO of Office Depot, Inc. Brings More Than 30 Years of Leadership Experience, Strong Retail Background, and Exceptional Track Record in Merger Integration, Business Transformation and Value Creation Tuesday, November 12, 2013 5:08 pm EST BOCA RATON, Fla. & NAPERVILLE, Ill.--(BUSINESS WIRE)--Office Depot, Inc. (NYSE:ODP), a leading global provider of office products, services, and solutions formed by the merger of Office Depot and OfficeMax, today announced the appointment of Roland C. Smith as Chairman and CEO, effective immediately. An experienced senior executive, having served as President and Chief Executive Officer of public and private companies and on numerous boards, Smith comes to Office Depot, Inc. with a strong retail track record of increasing operating profit, managing complex integrations, directing corporate turnarounds, and transforming companies for future success. Most recently, Smith was the Chief Executive Officer and President of Delhaize America, LLC, which is the U.S. division of Delhaize Group. Delhaize America produces over $18 billion in annual revenue through its U.S. supermarkets, including Food Lion and Hannaford, and represents approximately 65% of the revenue of the Delhaize Group. While at Delhaize, Smith orchestrated the successful integration of the major supermarket chains owned by Delhaize, including successful dispositions of three of the chains thereby materially improving profitability and driving substantial shareholder value creation at Delhaize Group. Previously, Smith was President and CEO of The Wendy’s Company; President and CEO of Wendys/Arbys Group, Inc.; and CEO of Wendys International, Inc. Throughout his tenure at these companies, Smith orchestrated numerous transformative initiatives. Originally at Arby’s, Smith helped to rejuvenate the brand, turn around the culture, and integrate the acquisition of its largest franchisee. Later, Smith successfully completed the acquisition and merger of Wendy’s by Arby’s. While transforming the culture, menu, and product, Smith also improved operations and accelerated international expansion. Additionally, Smith orchestrated the successful sale of Arby’s. Smith also led operational turnarounds at American Golf Corporation, the world’s largest owner and operator of golf courses, and AMF, the world’s largest owner and operator of bowling centers. “I am honored to accept the position of Chairman and CEO of Office Depot, Inc.,” said Smith. “With the combined resources of Office Depot and OfficeMax, we have the ability to transform the company and create an exciting new organization that exceeds the needs and desires of our customers, provides new opportunities for our global associates, becomes a more appealing partner to our vendors, and increases value for our shareholders.” Added Smith, “I know that numerous cross-company teams have worked diligently over the past eight months to create a clear blueprint for the integration of Office Depot and OfficeMax. Moving forward, my focus will be on fully integrating the two companies, achieving the planned synergies, creating a compelling vision for the future, and leveraging our infrastructure and assets to drive improved profitability and increased revenue. Additionally, I fully understand that we need to make a headquarters decision quickly so that we can drive our integration efforts.” “Over the last several months, the Selection Committee evaluated more than 100 candidates in a rigorous process to find the right leader for this company,” stated Office Depot, Inc. Lead Director Nigel Travis, co-chair of the CEO Selection Committee, and Chairman and CEO of Dunkin’ Brands. “Roland is uniquely qualified for the newly combined Office Depot and OfficeMax. He has decades of experience integrating companies and cultures and an impressive track record in turning around businesses. Additionally, he brings outstanding leadership that will be invaluable as we seek to transform and grow our new company.” “We are pleased to add a talented executive of Smith’s caliber to lead our combined organization as we enhance our position in the rapidly changing office solutions marketplace,” added Office Depot, Inc. Board Member Jim Marino, co-chair of the CEO Selection Committee, and former President and CEO of Alberto Culver Company. “Roland is a proven leader with the strategic insight and operational discipline necessary to drive our business forward and deliver the synergies that come from combining these two great companies. We are fortunate to have hired the right person for this unique opportunity.”
Posted on: Wed, 13 Nov 2013 11:13:16 +0000
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