OFFICE DEPOT, INC. (NASDAQ:ODP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On September22, 2017, Office Depot, Inc. (the “Company”) announced that Troy Rice, President, Retail Division, will leave the Company to pursue other opportunities. In connection with Mr.Rice’s departure and conditioned upon his execution of a General Release Agreement (the “Release Agreement”), Mr.Rice is eligible to receive payment of severance to the terms of his letter agreement with the Company effective March18, 2014, in connection with a termination of employment without cause. The Release Agreement provides for a release of all claims against the Company. Mr.Rice will remain subject to non-compete, confidentiality and non-solicitation obligations included with his letter agreement.
About OFFICE DEPOT, INC. (NASDAQ:ODP)
Office Depot, Inc. (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands. It also offers products under various labels, including Foray, Ativa, TUL, WorkPro, Brenton Studio, Highmark, Grand & Toy and Viking Office Products. It offers its products under supplies, technology, furniture and other categories. The supplies category includes products, such as paper, binders and school supplies. The technology category includes products, such as desktop and laptop computers, monitors, cables, software, telephones and wireless communications products, as well as services for technology products. The furniture and other category include products, such as desks, chairs, luggage, sales in its copy and print centers, and other miscellaneous items.