BOCA RATON, Fla. (AP) -- Office Depot Inc. said Friday that Kevin Peters, president of its North American business, is leaving to become CEO of an industrial distribution company. The office supplies retailer's chairman and CEO, Neil Austrian, will oversee North American operations.
Austrian said that during his five years at Office Depot that Peters helped build a strong team while driving the strategic vision for its North American sales channels and the supply chain organization.
Office Depot, based in Boca Raton, Fla., has 1,675 stores worldwide.
Shares rose 6 cents to close at $3.66.