The tenure of J. Alexander (Sandy) Douglas as chief executive of office supply retail giant Staples is coming to an end.
Staples said that Douglas will resign as CEO effective Friday, June 18. He will be succeeded on an interim basis by executive chairman John A. Lederer. Staples, which is owned by Sycamore Partners, said it has begun a search for a permanent chief executive officer.
Staples offered no reasons for Douglas’ departure other than to say it was my mutual agreement. But the move comes two weeks after its company USR Parent Inc. offered to buy the consumer business of Office Depot parent company ODP Corp. — including its approximately 1,100 Office Depot and OfficeMax stores and websites — for $1 billion. The bid is the third attempt by Staples to buy its rival.
Source: Chain Storeage
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