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Office Depot, Inc. Message Board

  • zgcorp zgcorp Jun 11, 2013 10:24 AM Flag

    CEO selection

    Is the hiring of an outside source to select a CEO a good thing or bad? On the one hand it favors having an independent opinion. On the other hand does it show no real leadership and knowledge of their industry? You would think current management knows exactly what and who they need to lead this new merged company. Thanks in advance for intelligent input.

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    • Good, Bad, we will not know until the dust settles. I just hope they don't keep too many from the table at Office Depot.

      As for the stock price question that so many have posted lately: Think about it. Given the number of shares that OMX has outstanding vs the number of shares that ODP has, and now thinking about the exchange rate for the merger, I don't think this stock is going to be going too high at all. We will be lucky if it makes it back to $6 anytime soon. I REALLY hope I am wrong.

      Lord, what in hell was I thinking when I put my money into this pit? :(

    • The "committee" being the hiring bunch from OfficeMax and Office Depot.

    • The committee and Korn/Ferry expect to undertake a comprehensive search for a proven leader with the strategic insight, operational discipline and inspirational leadership required to transform the business and deliver the synergies that come from combining the companies. The search will consider both incumbent CEOs (Neil Austrian of Office Depot and Ravi Saligram of OfficeMax) and external candidates. Both incumbents will remain in their current positions through the search process, which is anticipated to be completed at or prior to the close of the transaction.

      In other words, it's all good!

 
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