Search Process Under Way for Successor
DELRAY BEACH, Fla., Aug 15, 2001 -- OFFICE DEPOT, INC. (NYSE:ODP), the world`s largest seller of office products, today announced that William Seltzer, 63, Chief Information Officer of the Company for the past nine years, has announced his plans to retire from the Company at the end of the year. A search process is under way for a new CIO.
Bruce Nelson, Office Depot`s Chief Executive Officer, commented, "Bill has been a vital component in the growth of this company over the past nine years. His contributions have been enormous, as evidenced by the numerous industry awards and recognition won by Bill and his team for our innovative, stable and reliable systems infrastructure both in the U.S. and around the world. His development of our state-of-the-art data architecture and subsequent new developments in e-commerce, voice recognition technology and wireless communications have set the stage for our continued success over the long term. His strong leadership, both within our company and in the industry, will be missed. All of us at Office Depot deeply appreciate the job Bill has done, and while we will miss him, we understand his decision to spend more time with his family."
"This company has undergone tremendous changes over the past nine years, and I have enjoyed both the challenges and the successes we have achieved in global systems technology across all channels of our business," said Mr. Seltzer. "Over the past several years, I believe we have built a world class systems management team, and I have taken great pride in all that we have accomplished, as well as our plans for the future. While I will miss my Office Depot colleagues, I have been considering retirement for some time, and my decision reflects my growing need to spend more time with my wife, Sophie, our children and grandchildren."
Nelson added, "We are confident that we will be able to fill this position with an experienced, top-notch CIO candidate. I truly believe Office Depot is the most compelling place to work in our industry. This position offers a candidate enormous potential for growth, while providing valuable tools, resources and management staff to achieve new heights and innovations in corporate information technology and management systems. We will consider both internal and external candidates."
About Office Depot
As of June 30, 2001, the Company operated 829 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 25 delivery centers, more than 60 local sales offices and eight regional call centers. Furthermore, the Company owned and operated 27 office supply stores in France and seven stores in Japan; had mail order and delivery operations in 14 countries outside of the United States and Canada; and under joint venture and licensing agreements, had 98 additional stores operating under the Office Depot name in six other foreign countries. The Company also operates an award-winning U.S. Office Depot brand Internet Web site at http://www.officedepot.com where customers can access Office Depot`s low competitive prices seven days a week, twenty-four hours a day, and it operates Viking brand Web sites at http://www.vikingop.com in the United States, http://www.viking-direct.co.uk in the United Kingdom, http://www.viking.de in Germany, http://www.vikingdirect.nl in The Netherlands and http://www.vikingop.it in Italy. Office Depot`s common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P; 500 Index.
Office Depot, Inc., Delray Beach
Eileen H. Dunn, Investor Relations
Lauren Garvey, Media Relations