In its second-largest acquisition, Amazon buys the company for $970 million.
Sam Martin will become president and CEO of supermaket chain A&P.
OfficeMax Inc. today announced Sam Martin, executive vice president and chief operating officer, has resigned to become president and CEO of the Great Atlantic & Pacific Tea Co., a supermarket chain, effective yesterday. He succeeds Ron Marshall, who has left A&P.
“We thank Sam for the many contributions he has made to OfficeMax during his tenure at the company,” says Sam Duncan, chairman and CEO of OfficeMax, No. 7 in the Internet Retailer Top 500 Guide. “He was an integral part of the successful turnaround of OfficeMax. We are confident in the company's ability to execute a smooth and orderly transition.”
Duncan will assume Martin’s responsibilities and the executives that reported to Martin will now report directly to Duncan. The office supplies retailer has begun searching for a new chief operating officer.
Christian Haub, A&P executive chairman, says "Sam is a proven, hands on operational expert in the food retail industry. He has an ideal mix of food industry management experience encompassing operations, merchandising and supply chain."