Staples Nominates Harvard President Drew Faust to Its Board

Staples Inc. (SPLS), the world’s largest office-supply retailer, has nominated Harvard University President Drew Faust to its board.

Directors will be voted on at the company’s annual meeting June 4, the company said in a statement yesterday. Staples also announced the retirement of Mary Elizabeth Burton, who’s been on the board the past 19 years.

Faust, 64, has been in charge of Harvard’s academic and administrative operations since 2007. She serves on the board of Harvard Management Co., which is responsible for the school’s endowment, the retailer said.

Framingham, Massachusetts-based Staples sells office supplies, furniture and technology in countries including the U.S., Canada, U.K. and Germany. It posted revenue of $25 billion for the fiscal year ended January 2012.

Shares fell 1 cent to $16.06 in Nasdaq trading on April 5. The stock is up 16 percent year to date.

To contact the reporter on this story: Mina Kawai in New York at minkawai@bloomberg.net.

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net.