February 12, 2010, 12:00 AM

OfficeMax CEO will retire next year

OfficeMax Inc. announced that Sam Duncan will retire from his position as chairman and CEO, effective Feb. 28, 2011. The office supplies retailer’s board will begin a nationwide search for his replacement.

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OfficeMax Inc. announced that Sam Duncan will retire from his position as chairman and CEO, effective Feb. 28, 2011.

The office supplies retailer’s board of directors says it will consider both internal and external candidates as it begins a nationwide search for Duncan’s replacement.

Duncan, who took over the position in 2005, oversaw a turnaround plan that meant reduced spending on labor, advertising and marketing and a consolidation of warehouses and distribution centers.

"He has made significant contributions to OfficeMax during his five years as chairman and CEO and is leaving the company with an experienced management team and a legacy of core values important to the success of the company," says Rakesh Gangwal, lead director.

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