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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 18, 2023, The ODP Corporation (the “Company”) announced that Gerry P. Smith, the Chief Executive Officer of the Company (“CEO”), began a temporary medical leave of absence to undergo a medical procedure that requires several weeks of recovery. Effective immediately, the Board of Directors of the Company (the “Board”) has appointed Joseph S. Vassalluzzo, the Company’s non-executive Chair of the Board, to assume Mr. Smith’s authority and responsibilities until Mr. Smith returns from his medical leave.
Mr. Vassalluzzo has served as the independent non-executive Chairman of the Board since February 2017 and has served as a member of the Board since August 2013. From 2002 to 2021, he served as a director of the Federal Realty Investment Trust, where he was chairman of the board of trustees. Mr. Vassalluzzo was previously a director of LifeTime Fitness, from 2006 to 2015, where he was its lead director and chair of the compensation committee. Mr. Vassalluzzo was employed by Staples, Inc. (“Staples”) from 1989 until 2005 and his duties included worldwide responsibility for all of Staples’ real estate activities, including, but not limited to, the development and management of all retail stores; distribution; office and warehouse centers; international operations; engineering, construction and design activities; facilities management; M&A activities; and the Legal Department function. Mr. Vassalluzzo also served as Staples’ vice chairman from 1999 to 2005.
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 hereunto duly authorized.
|THE ODP CORPORATION|
|Date: September 18, 2023|
|Name:||Sarah E. Hlavinka|
|Title:||Executive Vice President, Chief Legal Officer and Corporate Secretary|