Office Depot has announced that it will split the roles of Chairman and CEO going forward, making it yet another retailer to make such a decision. Large companies have been under increasing pressure from shareholders to split up the two roles, saying that such a move will help improve operations.

Office Depot noted that the provision will not apply to current CEO Steve Odland, whose employment agreement requires that he also serve as Chairman. The chain added that it will also allow an independent director of the board to serve as Chairman.

NamNews - Tuesday 27th October 2009

 

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