FRAMINGHAM, Mass.--(BUSINESS WIRE)--Jan. 24, 2017--
Staples, Inc. (Nasdaq: SPLS) announced today that the company’s Board of
Directors has elected Robert E. Sulentic to serve as Independent
Chairman of the Board effective January 29, 2017. Sulentic, President
and Chief Executive Officer of CBRE Group, Inc., joined the Staples
Board in 2007 and most recently served as Lead Independent Director.
As previously announced, Ron Sargent, the company’s non-executive
Chairman will retire from the company’s Board of Directors on January
In response to a shareholder proposal that received support from a
majority of shares voted at the company’s 2016 Annual Meeting, the Board
of Directors has unilaterally amended and restated the company’s bylaws
to reduce the threshold for shareholders to call a special meeting from
25 percent to 15 percent of Staples outstanding common stock.
“At Staples, we are committed to corporate governance best practices
that promote strong board effectiveness and long-term value creation,”
said Vijay Vishwanath, Chair of the Nominating and Corporate Governance
Committee. “We have a solid track record of responding to shareholder
feedback, and today’s announcement further illustrates our commitment to
drive increased alignment with our shareholders.”
About Staples, Inc.
Staples helps small business customers
make more happen by providing a broad assortment of products, expanded
business services and easy ways to shop – in stores, online, via mobile
or through social apps. Staples Business Advantage, the
business-to-business division, caters to mid-market, commercial and
enterprise-sized customers by offering a one-source solution for the
products and services they need, combined with best-in-class customer
service, competitive pricing and a state-of-the-art ecommerce site.
Headquartered outside of Boston, Staples, Inc. operates throughout North
and South America, Europe, Asia, Australia and New Zealand. More
information about Staples (NASDAQ: SPLS) is available at www.staples.com.
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Source: Staples, Inc.
Bill Durling, 508-253-2882
Chris Powers, 508-253-4632