UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): May 30, 2017
OFFICE DEPOT, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 1-10948 | 59-2663954 | ||
| (State or other jurisdiction of incorporation or organization) |
Commission File number |
(I.R.S. Employer Identification No.) |
| 6600 North Military Trail, Boca Raton, Florida | 33496 | |
| (Address of principal executive offices) | (Zip Code) |
(561) 438-4800
(Registrant’s telephone number, including area code)
Former name or former address, if changed since last report: N/A
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 5.02 | DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. |
On May 30, 2017, Office Depot, Inc. (the “Company”) announced the appointments of Stephen R. Calkins, 46, and Troy Rice, 54, to serve as the Company’s President, Business Solutions Division and the Company’s President, Retail Division, respectively, effective immediately. The appointments are aligned to the Company’s reporting segments, North American Business Solutions Division (“BSD”) and North American Retail Division (“Retail Division”). The decisions are made in connection with the Company’s focus on its strategic initiatives to grow its North American business. Mr. Calkins currently serves as the Company’s Executive Vice President, Chief Legal Officer and Corporate Secretary. Mr. Calkins will continue to hold these positions while taking on the new role of President, Business Solutions Division, pending a successor being named. Mr. Rice currently serves as the Company’s Executive Vice President and Chief Operating Officer, North America, a position that will be replaced with his new role as President, Retail Division.
Mr. Calkins has been serving as the Company’s Executive Vice President, Chief Legal Officer and Corporate Secretary since August 2016. Between 2011 and 2016, Mr. Calkins held various leadership roles in operations, including as Executive Vice President, Contract Sales from December 2013 to August 2016, during which time he was responsible for the Company’s contract sales business, Canadian operations, print and services and customer service. Prior to this role, Mr. Calkins served as Senior Vice President, North American Business Solutions from April 2011 to December 2013, Vice President, Deputy General Counsel from March 2010 to April 2011, and Vice President, Associate General Counsel from February 2007 to March 2010. Between 2003 and 2007, Mr. Calkins held various leadership positions in the Company’s legal department. Before Office Depot, Mr. Calkins was an attorney with Kilpatrick Townsend & Stockton LLP.
Mr. Rice has been serving as the Company’s Executive Vice President and Chief Operating Officer, North America since August 2016. Mr. Rice joined Office Depot in April 2014 as Executive Vice President of Retail. Before joining Office Depot, Mr. Rice served as Executive Vice President of Stores and Services for Toys “R” Us where he worked from 2006 to 2014. Prior to Toys “R” Us, Mr. Rice worked for The Home Depot from 1990 to 2006 where he held a number of leadership roles, leaving as Division President, Northern Division.
A copy of the press release announcing the business unit Presidents and other executive appointments is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| ITEM 9.01. | FINANCIAL STATEMENTS AND EXHIBITS |
(d) Exhibits.
| Exhibit 99.1 | Press Release dated May 30, 2017. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| OFFICE DEPOT, INC. | ||||||
| Date: May 30, 2017 | By: | /s/ Stephen R. Calkins | ||||
| Stephen R. Calkins Executive Vice President, Chief Legal Officer & Corporate Secretary | ||||||
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EXHIBIT INDEX
| Exhibit 99.1 | Press Release dated May 30, 2017. |
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Exhibit 99.1
| CONTACTS: | ||
| AnneMarie Mathews |
Richard Leland | |
| Media Relations |
Investor Relations | |
|
561-438-6710 |
561-438-3796 | |
| annemarie.mathews@officedepot.com |
richard.leland@officedepot.com |
OFFICE DEPOT ANNOUNCES BUSINESS UNIT PRESIDENTS
AND EXECUTIVE APPOINTMENTS
Boca Raton, Fla., May 30, 2017 – Office Depot, Inc. (NASDAQ:ODP), a leading provider of office products, services, and solutions, today announced the appointment of several senior executives to align with the Company’s focus to grow its North American business.
Steve Calkins has been named President, Business Solutions Division, focused on serving Office Depot’s B2B customers. With Office Depot since 2003, Calkins has been the Company’s Executive Vice President and Chief Legal Officer since August 2016. Prior to that, he held various executive leadership roles in operations for over five years, including having responsibility for the Company’s contract sales business and Canadian operations. Having already been successful in these roles, he brings a wealth of knowledge and relationships that will support the continued momentum currently underway and drive expansion in adjacencies and services among B2B customers.
Troy Rice has been named President, Retail Division, focusing on our B2C customers. With a background of nearly 30 years in the retail industry, Rice, will maintain responsibility for setting the strategic direction of the Company’s retail offerings while transforming the customer experience. In addition, he will oversee the Copy and Print business. Rice was previously Executive Vice President and Chief Operating Officer, and has been with Office Depot since April 2014. Prior to joining Office Depot, Rice held various executive leadership roles with Toys “R” Us and The Home Depot.
“With our Company’s revenue evenly split between the retail and delivery businesses, it is imperative that we have strong leadership to meet our customer needs in both of these key business segments,” said Gerry Smith, Chief Executive Officer for Office Depot, Inc. “Both Steve and Troy have significant experience leading these businesses which will allow us to better leverage our integrated multi-channel business model and continue to execute against our strategic initiatives.”
Additionally, Michael Allison, formerly Executive Vice President and Chief People Officer, recently has assumed the new role of Executive Vice President, Chief Administrative Officer. With Office Depot since 2006, Allison is utilizing his significant company and industry experience as he continues to oversee Human Resources, Communications, Loss Prevention and Events, and has added responsibilities for IT, Real Estate and Construction.
Kevin Moffitt, currently Senior Vice President, eCommerce, will assume the expanded role of Chief Digital Officer, leading eCommerce and all digital-related activities for the
Company. Moffitt, who has been with the company since 2012, will build on his more than 20 years of experience creating integrated, customer-centric digital experiences. Reporting to Steve Calkins, he will be responsible for transforming Office Depot’s digital platforms, driving digital strategy and innovation and accelerating the company’s online and mobile growth.
In addition, John Gannfors has recently joined Office Depot as Executive Vice President, Transformation and Strategic Sourcing. Gannfors is leading the company’s Transformation Office, process improvement and strategic sourcing areas where he will be responsible for procurement, driving business process improvements across the organization and executing on various efficiency and cost savings opportunities. He most recently spent nearly 10 years as Vice President, Global Supply Chain and Chief Procurement Officer, Data Center Group, at Lenovo. Prior to joining Lenovo, he spent approximately 12 years in various leadership roles at Dell.
Rounding out the company’s executive team are Stephen Hare, Executive Vice President and Chief Financial Officer, and Timothy Beauchamp, Executive Vice President, Supply Chain.
“I am confident that with these leaders in place, we have the optimal structure and expertise to support and expand our customer base and focus on growing our North American business to position Office Depot for long-term future success,” added Smith.
About Office Depot, Inc.
Office Depot, Inc. is a leading provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.
The company had 2016 annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and abroad with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – with a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax and Grand & Toy. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and Highmark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”
Office Depot is a trademark of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. ©2017 Office Depot, Inc. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.