CEO Roland Smith will retire and Troy Rice will oversee e-commerce as Office Depot’s new chief operating officer.
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Zappos did not make the change because it is planning to go public soon, although it is putting into place some of the processes and systems “that will allow us to be a public company one day,” Lin says. For now, he says, “We don’t need the distraction of being a public company.”
Should Zappos one day go public, it at least will have its revenue recognition policies aligned with those of the SEC. That’s not the case for all Internet merchants.