Office Depot, Inc. Names Michael A. Steele Vice President, Investor
BOCA RATON, Fla. -- January 16, 2014
Office Depot, Inc. (NYSE: ODP),a leading global provider ofoffice products,
services, and solutionsformed by the merger of Office Depot and OfficeMax,
today announced the appointment of Michael A. Steele as Vice President,
Investor Relations, effective immediately. Steele reports to Stephen E. Hare,
Executive Vice President and Chief Financial Officer.
Steele will develop and execute Office Depot’s investor relations strategy,
serving as the primary interface for management with the financial community.
He plans to relocate to the Office Depot corporate headquarters in Boca Raton
in the coming months.
Rich Leland, having led both treasury and investor relations for Office Depot
since April 2013, will continue as Vice President Finance and Treasurer,
assuming additional key responsibilities in an expanded role.
Steele most recently served as Vice President, Investor Relations for
OfficeMax Incorporated, where he had been employed since July 2007.
Previously, he worked at The ServiceMaster Company, a residential and
commercial service network, in various corporate finance roles including
financial planning, treasury, and mergers and acquisitions. Early in his
career, he held financial roles in the telecommunications industry and
“As we work to integrate Office Depot and OfficeMax, clear and effective
communication with our investors and the financial community is essential,”
said Steve Hare. “We are excited about the depth of experience and expertise
that Mike brings to this role, particularly the relationships that he has
formed while at OfficeMax.”
Steele, 41, is a CFA charterholder and graduated with an MBA from Loyola
University Chicago and with a BS from Northern Illinois University. He has
been an active member of the Senior Roundtable of the National Investor
Relations Institute (NIRI), and is a former board member of NIRI’s Chicago
About Office Depot, Inc.
Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a
leading global provider of products, services, and solutionsfor every
workplace – whether your workplace is an office, home, school, or car.
Office Depot, Inc. is a resource and a catalyst to help customers work better.
We are a single source for everything customers need to be more productive,
including the latest technology, core office supplies, print and document
services, business services, facilities products, furniture, and school
The company has combined annual sales of approximately $17 billion, employs
about 66,000 associates, and serves consumers and businesses in 59 countries
with more than 2,200 retail stores, award-winning e-commerce sites and a
dedicated business-to-business sales organization – all delivered through a
global network of wholly owned operations, joint ventures, franchisees,
licensees and alliance partners. The company’s portfolio of leading brands
includes Office Depot, OfficeMax, OfficeMax Grand & Toy, Viking, Ativa, TUL,
Foray, and DiVOGA.
Office Depot, Inc.’s common stock is listed on the New York Stock Exchange
under the symbol ODP. Additional press information can be found
Additional information about the recently completed merger of Office Depot and
OfficeMax can be found athttp://officedepotmaxmerger.com.
All trademarks, service marks and trade names of Office Depot, Inc. and
OfficeMax Incorporated used herein are trademarks or registered trademarks of
Office Depot, Inc. and OfficeMax Incorporated, respectively. Any other product
or company names mentioned herein are the trademarks of their respective
This communication may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements or
disclosures may discuss goals, intentions and expectations as to future
trends, plans, events, results of operations or financial condition, or state
other information relating to, among other things, the Company, the merger and
other transactions contemplated by the merger agreement, based on current
beliefs and assumptions made by, and information currently available to,
management. Forward-looking statements generally will be accompanied by words
such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,”
“forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,”
“project,” “propose” or other similar words, phrases or expressions, or other
variations of such words. These forward-looking statements are subject to
various risks and uncertainties, many of which are outside of the Company’s
control. There can be no assurances that the Company will realize these
expectations or that these beliefs will prove correct, and therefore investors
and shareholders should not place undue reliance on such statements.
Factors that could cause actual results to differ materially from those in the
forward-looking statements include adverse regulatory decisions; the risks
that the combined company will not realize the estimated accretive effects of
the merger or the estimated cost savings and synergies; the businesses of
Office Depot and OfficeMax may not be integrated successfully or such
integration may take longer, be more difficult, time-consuming or costly to
accomplish than expected; the business disruption following the merger,
including adverse effects on employee retention; the combined company’s
ability to maintain its long-term credit rating; unanticipated changes in the
markets for the combined company’s business segments; unanticipated downturns
in business relationships with customers; competitive pressures on the
combined company’s sales and pricing; increases in the cost of material,
energy and other production costs, or unexpected costs that cannot be recouped
in product pricing; the introduction of competing technologies; unexpected
technical or marketing difficulties; unexpected claims, charges, litigation or
dispute resolutions; new laws and governmental regulations. The foregoing list
of factors is not exhaustive. Investors and shareholders should carefully
consider the foregoing factors and the other risks and uncertainties described
in Office Depot’s and OfficeMax’s Annual Reports on Form 10-K and Quarterly
Reports on Form 10-Q filed with the Securities and Exchange Commission. The
combined company does not assume any obligation to update or revise any
Office Depot, Inc.
Mike Steele, 561-438-3657
Brian Levine, 561-438-2895
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