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Search For Combined Office Depot, OfficeMax Business Progressing

Monday August 12th, 2013 - 12:18PM

Office Depot, Inc. and OfficeMax Inc. have jointly provided an update on the CEO search process for the combined company, which is occurring as part of the their joint integration planning, the retailers said. At the time of the planned Office Depot and OfficeMax merger, both companies' boards of directors determined to undertake a comprehensive search process, which would consider both internal and external candidates to identify the best-qualified CEO to lead a combined company.

Together, the combined companies will have $18 billion in pro forma revenues based on 2012 returns. To date, more than 100 candidates have been reviewed and vetted, and eight top candidates have been interviewed, the companies said.

The CEO selection committee has narrowed the selection process to five candidates it believes can lead the combined business and meet the goal of having a permanent CEO in place by September, the companies related.