The largest worldwide producer of office supplies and equipment is clearly the company known as Office Depot. They are known for their convenient locations and for their sales of everything office related. From computers to furniture and paper to pens, even including coffee and office snacks, a quick trip to one location meets most needs the office manager may have.
With a total number of stores at 1628 and an annual sales of $10.7 billion per year, Office Depot employs close to 38,000 employees in more than 60 countries worldwide. As a publically traded company, Office Depot is regulated by the United States Securities and Exchange Commission and is required to comply with standard securities laws.
Recently in a filing with the Securities and Exchange Commission, Office Depot filed a preliminary proxy statement in compliance with SEC regulations that require changes in board membership to be filed through their agency. In this statement they announced that Brenda Gaines, the director of the Board had informed them of her decision to not seek reelection when her term expires. This proxy, buy the way, names Michael J Massey, who was the CEO and President of Collective Brands, Inc. as Mrs. Gaines successor.
Neil Austrian, who is the Chairman and CEO of Office Depot was pleased with the news of Michael J. Massey’s decision to join the team at his company and thanked Brenda Gaines for her more than ten years on the Board. In the proxy, the Directors instruct the shareholders to vote “FOR” the ten nominees.
The annual meeting where this vote will take place is going to take place on August 21, 2013. Massey’s experience includes more than a year as the Chief Executive officer and President and nine years as the Senior Vice President of Collective Brands, Inc. Prior to that he worked at the May Department Stores Company and at Paster West & Kraner, P.C.
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