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US: Office Depot taps Lenovo exec as new CEO

 |  January 30, 2017

Office Depot on Monday announced Gerry Smith would succeed Roland Smith as chief executive of the office-supplies retailer less than a year after its failed tie-up with rival Staples.

Gerry Smith will replace Roland Smith, who announced his retirement in August, three months after Office Depot’s merger with rival Staples was thwarted by antitrust regulators.

Gerry Smith is currently the chief operating officer at Lenovo and joined the company in 2006.

Vassalluzzo joined Office Depot’s board in August 2013 and is now Chair of the Finance and Integration Committee. He was previously the vice chairman at Staples.

Office Depot, which has posted eight quarters of falling sales, said in November that it expected to slow the decline in sales to businesses in North America as it wins new contracts.

Full Content: Wall Street Journal

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