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(Reuters) - Office Depot Inc <ODP.O> said on Monday Chief
Executive Roland Smith would retire, three months after the
second-largest U.S. office supplies retailer and bigger rival
Staples Inc <SPLS.O> abandoned their planned merger.
The company also said it would consolidate its retail, contract,
ecommerce and marketing operations under a newly created role of
chief operating officer, North America.
Office Depot said 62-year-old Smith, appointed to the top job in
November 2013, would continue until a replacement was found.
The company said it expected to name a new CEO by the end of the
first quarter of 2017.
The office supplies retailer has been struggling with seven
quarters of falling sales amid strong competition from online
giant Amazon.com Inc <AMZN.O>.
Office Depot said earlier this month it would shut 300 more
stores in the next three years in addition to the 400 stores it
had already closed.
The company's planned merger with Staples was thwarted by
antitrust regulators in May.
Staples Chief Executive Ron Sargent has also stepped down.
(Reporting by Abhijith Ganapavaram and Subrat Patnaik in
Bengaluru; Editing by Anil D'Silva and Sriraj Kalluvila)
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