Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The office supplies retailer gives the job to Neil Austrian, who was interim CEO.
Office Depot Inc. has appointed Neil Austrian as chairman and CEO. He had held those jobs on an interim basis since Nov. 1, 2010, after the resignation of Steve Odland.
Office Depot is No. 5 in the Internet Retailer Top 500 Guide.
“Our search for a new leader to guide Office Depot through these challenging economic times was very thorough,” says Marty Evans, the Office Depot board member who led the CEO search committee. “While we met many qualified candidates who were excited about the opportunity, we kept coming back to Neil. He has already increased the talent level of the management team and taken the steps necessary to grow sales, leverage assets and build brands.”
Austrian has been an Office Depot director since 1998 when it merged with Viking Office Products. He had been a director at Viking since 1988. He also served as Office Depot's interim chairman and CEO between Oct. 4, 2004, and March 11, 2005. Previously, Austrian was president and chief operating officer of the National Football League between April 1991 and December 1999.