Office Depot, Inc. Names Mark Cosby President, North America

  Office Depot, Inc. Names Mark Cosby President, North America

Business Wire

BOCA RATON, Fla. -- July 21, 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 Mark Cosby as president, North America.
Cosby will be a member of Office Depot’s Executive Committee and Leadership
Team and report to Roland Smith, chairman and CEO of Office Depot, Inc.
Cosby’s role includes oversight of the company’s retail, contract sales,
e-commerce, merchandising, marketing, real estate and supply chain functions
in North America.

“I am very pleased to welcome Mark Cosby to our team,” said Smith. “Mark
brings three decades of significant leadership experience at large and complex
retail operations, including serving as president of three leading retail
chains. I believe Mark’s leadership style, skills and experience will enable
him to quickly make a positive impact on our business.”

Cosby joins Office Depot, Inc. following a successful 30 year career at a
number of leading retail chains. Most recently, he was president, pharmacy at
CVS Caremark Corporation, where he was responsible for all aspects of the $65
billion retail business, including 7,600 retail stores, 19 distribution
centers, retail merchandising, supply chain, marketing, real estate and store
pharmacy operations. During Cosby’s time with CVS, retail revenue grew 10
percent, retail profits increased by 27 percent and share price more than
doubled. Prior to CVS, Cosby spent five years at Macy’s, Inc., where he served
in a number of executive roles, including president, Stores. Previously, Cosby
served as president, Full-line Stores at Sears, Roebuck & Company and chief
operating officer and chief development officer at YUM! Brands, Inc.

“I am excited to join Office Depot as the newly-merged company is defining its
path for the future,” said Cosby. “I look forward to partnering with my new
team to continue the excellent progress on the integration and transforming
our business to drive shareholder value.”

Cosby, 55, earned both a Bachelor of Business Administration and a Master of
Business Administration from the University of Wisconsin.

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
essentials.

The company has combined pro forma annual sales of approximately $17 billion,
employs more than 60,000 associates, and serves consumers and businesses in 58
countries with more than 2,000 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
at:http://news.officedepot.com.

Additional information about the recently completed merger of Office Depot and
OfficeMax can be found athttp://officedepotmaxmerger.com.

Contact:

Office Depot, Inc.
Karen Denning, 630-864-6050
Media Relations
Karen.Denning@officedepot.com
or
Mike Steele, 561-438-3657
Investor Relations
Michael.Steele@officedepot.com
 
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