US: Staples Announces CEO Change

Staples has announced that long-time CEO Ron Sargent will step down later in June, just weeks after the group ended plans to acquire Office Depot, following a ruling by a US federal judge.

Sargent has been CEO since February 2002, and will leave the post after the company AGM on 14 June.  He will continue as non-executive Chairman for this fiscal year (ending 28 January, 2017) on re-election at the AGM.

Shira Goodman, Staples’ President of North America Operations, will become interim CEO.  A special committee of the board will search for a permanent replacement, with the support of an executive search firm.

Robert Sulentic, independent lead director, noted: “With the termination of the merger, we mutually agreed that now is the right time to transition to a new management to lead Staples through its next phase of growth”.