Next up for Office Depot is a vote on the board of directors, which is pitting current leaders against the company’s largest common stockholder who is trying for a minor stake on the board.
The Boca Raton-headquartered office supply chain (NYSE: ODP, $4.41) just successfully navigated a merger vote with OfficeMax (NYSE: OMX, $11.66). Shareholders from both companies overwhelmingly endorsed the merger earlier this month, and now must wait for approval by the Federal Trade Commission. That agency has requested additional information, but the expect the approval process to be finished by the end of the year.
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THIS HAS 2 PARTS: OFFICE DEPOT AND STARBOARD VALUE
Office Depot nominees:
Neil Austrian, CEO of Office Depot and board chairman
Justin Bateman, partner in BC Partners, a private equity firm that invested $350 million in Office Depot in 2009
W. Scott Hedrick, former director of The Office Club, Inc. acquired by Office Depot in 1991
Marsha Johnson Evans, ret. U.S. Navy Rear Admiral; former National Executive Director of Girl Scouts of the USA and President and CEO of the American Red Cross
Kathleen Mason, former President and CEO Tuesday Morning Corp.
Raymond Svider, managing partner BC Partners
Thomas J. Colligan, Vice Dean of The Wharton School’s Aresty Institute of Executive Education
Nigel Travis, Chairman and CEO Dunkin Brands Inc.
Eugene V. Fife, Founder and Managing Principal of private investment firm Vawter Capital LLC
Michael J. Massey, former CEO and President Collective Brands Inc. which owns Payless ShoeSource
Starboard Value nominees:
Cynthia T. Jamison, board director for Tractor Supply Co., B&G Foods Inc.; prior director for Cellu tissue Holdings Inc., Horizon Organic Holding Corp.
Robert L. Nardelli, Founder and CEO XLR-8 LLC, Investment & Advisory Co., former CEO and Chairman Chrysler LLC
Jeffrey C. Smith, Founder and CEO Starboard Value LP, board director Regis Corp. and Quantum Corp.
Joseph S. Vassalluzzo, retail consultant and board director Federal Realty Investment Trust and Life Time Fitness; former executive Staples Inc.