Paul-Henri Ferrand nominated to Staples Board
Lead Independent Director Robert C. Nakasone to Retire; Board to
appoint Robert E. Sulentic as Lead Independent Director
Board approves Independent Chair policy
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Jan. 14, 2015--
Inc. (Nasdaq: SPLS) today announced that Paul-Henri Ferrand, Vice
President of U.S. Sales and Operations at Google, has been nominated by
the company’s Board of Directors for election as a Director at the 2015
“We’re pleased to nominate Paul-Henri Ferrand to our Board of
Directors,” said Vijay Vishwanath, Chair of the Nominating and Corporate
Governance Committee. “Paul-Henri is a strong strategic fit given his
deep background in ecommerce and technology at large, global
organizations. His extensive business-to-business experience will be
extremely valuable as we continue to focus on our delivery businesses as
a key growth engine of Staples.”
Prior to joining Google, Ferrand was President of Dell North America,
where he led Dell’s business-to-business and consumer segments with
revenue of $24 billion. Prior to joining Dell in 2004, he held senior
management positions at Nokia, Alcatel-Lucent and AT&T.
In addition, Robert C. Nakasone, Lead Independent Director, has
announced his decision to retire at the end of his term at the 2015
“Bob Nakasone has been a strong leader and has made significant
contributions to Staples over many years,” said Ron Sargent, Chairman
and Chief Executive Officer. “His deep knowledge and experience have
been invaluable since the earliest days of our company, and we thank him
for his dedicated service to Staples.”
The Board intends for Robert E. Sulentic to serve as Lead Independent
Director, upon Nakasone’s retirement. Sulentic, Chief Executive Officer
of CBRE, Inc., joined the Staples board in 2007 and currently serves as
the Chair of the Audit Committee.
In response to feedback from shareholders during the company’s ongoing
outreach program, the Board of Directors announced other changes. The
Board plans to appoint an Independent Chair upon the succession of the
Additionally, the Company announced that Sargent has elected to
eliminate a tax-gross up provision in his existing severance agreement
and elected not to accept his 2.5 percent base salary raise for 2014,
which the Board of Directors had previously approved.
Staples makes it easy to make more happen with more products and more
ways to shop. Through its world-class retail, online and delivery
capabilities, Staples lets customers shop however and whenever they
want, whether it’s in-store, online or on mobile devices. Staples offers
more products than ever, such as technology, facilities and breakroom
supplies, furniture, safety supplies, medical supplies, and Copy and
Print services. Staples also offers free shipping for Staples Rewards
Members, in most cases overnight. Headquartered outside of Boston,
Staples operates in North and South America, Europe, Asia, Australia and
New Zealand. More information about Staples (SPLS) is available at www.staples.com.
IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC
Staples will be filing with the SEC and mailing to its stockholders a
proxy statement relating to the election of directors, including
Mr.Ferrand, at its 2015 Annual Meeting. The proxy statement will contain
important information about Staples and its director nominees.
Stockholders are urged to read the proxy statement carefully when it is
available. Stockholders and other interested persons will be able to
obtain free copies of the proxy statement through the website maintained
by the SEC at www.sec.gov
and through Staples’ own website at http://investor.staples.com.
Staples and its directors and executive officers may be deemed to be
participants in the solicitation of proxies in connection with the 2015
Annual Meeting. Information regarding Staples’ directors and executive
officers is contained in Staples Form 10-K for the year ended February
1, 2014 and its proxy statement dated April 11, 2014, which are filed
with the SEC.
Source: Staples, Inc.
Kirk Saville, 508-253-8530
Chris Powers, 508-253-4632