Dive Summary:
- A Securities and Exchange Commission filing from Wednesday indicated that OfficeMax Chief Executive Ravi Saligram will not seek to lead both OfficeMax and Office Depot when their merger concludes.
- A committee is currently evaluating candidates to lead the newly-formed company when the merger concludes later this year.
- Saligram is expected to remain in his role at OfficeMax in the meantime, but his plans after the merger have not been announced.
From the article:
... OfficeMax and Office Depot, which is based in Boca Raton, Fla., announced plans to merge in late February. By combining, the companies hoped to generate roughly $18 billion in sales and make headway against industry leader Staples Inc. The merger was welcomed by investors, but officials left a number of questions unanswered, including who would lead the combined company, where it would be headquartered and, ultimately, what it would be named. ...
