Meet the new CEO of Office Depot Roland Smith

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Meet the new CEO of Office Depot Roland Smith
By Brigid Sweeney

Office Depot Inc. — the new entity formed by the merger of Naperville-based OfficeMax Inc. and Boca Raton, Fla.-based Office Depot Inc. — named Roland Smith chairman and CEO, effective immediately.

 

One of his first jobs will be deciding where the office-supply retailer will be based — in Naperville, OfficeMax's location, or Boca Raton, Fla., the home of Office Depot.

Most recently, Mr. Smith, 59, was CEO and president of Delhaize America LLC, the U.S. division of Delhaize Group, a Belgian food retailer that operates the Food Lion grocery chain in the U.S.

While there, he orchestrated the sale of three U.S. supermarket chains. Mr. Smith comes to Office Depot "with a strong retail track record of increasing operating profit, managing complex integrations, directing corporate turnarounds and transforming companies for future success," according to a Office Depot statement.

Previously, Mr. Smith was CEO of Wendy's Co., a holding company for Wendy's restaurants, as well as some T.J. Cinnamons and Pasta Connection restaurants. The company is also a minority owner of the Arby's fast food chain. Mr. Smith was CEO of Arby's in 2008, when its holding company, Triarc Cos., bought Wendy's and combined the two.

Mr. Smith ran Wendy's when it was based in Atlanta but decided to retire rather than move to Dublin, Ohio, in 2011 after the company announced plans to sell most of Arby's to a private-equity group and relocate headquarters. He came out of retirement in August 2012 to take the Delhaize job, which was based in Salisbury, N.C.

Relocation is certainly on everyone's mind when it comes to Office Depot. The company, which formally merged last week, is being run out of both west suburban Naperville and Boca Raton. The new company has not yet announced a home base as it seeks tax breaks from both states. In a statement, Mr. Smith said: "I fully understand that we need to make a headquarters decision quickly so that we can drive our integration efforts.”

Office Depot did say that Neil Austrian and Ravi Saligram, formerly co-CEOs of Office Depot, have resigned from the company and the board. Before the merger, Mr. Austrian was CEO of Office Depot and Mr. Saligram was CEO of OfficeMax.

CORPORATE VET

Over three decades in the corporate sector, Mr. Smith has acquired a reputation as a Mr. Fixit.

He first worked at Arby's in 1994 and was named CEO in 1997. From 1996 to 1998, the fast-food chain nearly tripled its operating profit and improved same-store sales.

Mr. Smith moved to the top job at AMF Bowling Worldwide Inc., the world's largest owner and operator of bowling centers, where he guided the company into and out of Chapter 11 bankruptcy and reduced debt by two-thirds. He next ran American Golf, the world's largest owner and operator of golf courses, where he increased revenue and provided a 35 percent return rate to investors.

In 2006, he returned to Arby's, where he helped oversee the merger with Wendy's.

“Over the last several months, the selection committee evaluated more than 100 candidates in a rigorous process to find the right leader for this company,” said Nigel Travis, the lead director of Office Depot's board and chairman and CEO of Dunkin' Brands Group Inc. in Canton, Mass. “Roland is uniquely qualified for the newly combined Office Depot and OfficeMax. He has decades of experience integrating companies and cultures and an impressive track record in turning around businesses."

A graduate of the U.S. Military Academy, Mr. Smith served in the U.S. Army for seven years before beginning his corporate career.

Meet the new CEO of Office Depot Roland Smith
By Brigid Sweeney

Office Depot Inc. — the new entity formed by the merger of Naperville-based OfficeMax Inc. and Boca Raton, Fla.-based Office Depot Inc. — named Roland Smith chairman and CEO, effective immediately.

 

One of his first jobs will be deciding where the office-supply retailer will be based — in Naperville, OfficeMax's location, or Boca Raton, Fla., the home of Office Depot.

Most recently, Mr. Smith, 59, was CEO and president of Delhaize America LLC, the U.S. division of Delhaize Group, a Belgian food retailer that operates the Food Lion grocery chain in the U.S.

While there, he orchestrated the sale of three U.S. supermarket chains. Mr. Smith comes to Office Depot "with a strong retail track record of increasing operating profit, managing complex integrations, directing corporate turnarounds and transforming companies for future success," according to a Office Depot statement.

Previously, Mr. Smith was CEO of Wendy's Co., a holding company for Wendy's restaurants, as well as some T.J. Cinnamons and Pasta Connection restaurants. The company is also a minority owner of the Arby's fast food chain. Mr. Smith was CEO of Arby's in 2008, when its holding company, Triarc Cos., bought Wendy's and combined the two.

Mr. Smith ran Wendy's when it was based in Atlanta but decided to retire rather than move to Dublin, Ohio, in 2011 after the company announced plans to sell most of Arby's to a private-equity group and relocate headquarters. He came out of retirement in August 2012 to take the Delhaize job, which was based in Salisbury, N.C.

Relocation is certainly on everyone's mind when it comes to Office Depot. The company, which formally merged last week, is being run out of both west suburban Naperville and Boca Raton. The new company has not yet announced a home base as it seeks tax breaks from both states. In a statement, Mr. Smith said: "I fully understand that we need to make a headquarters decision quickly so that we can drive our integration efforts.”

Office Depot did say that Neil Austrian and Ravi Saligram, formerly co-CEOs of Office Depot, have resigned from the company and the board. Before the merger, Mr. Austrian was CEO of Office Depot and Mr. Saligram was CEO of OfficeMax.

CORPORATE VET

Over three decades in the corporate sector, Mr. Smith has acquired a reputation as a Mr. Fixit.

He first worked at Arby's in 1994 and was named CEO in 1997. From 1996 to 1998, the fast-food chain nearly tripled its operating profit and improved same-store sales.

Mr. Smith moved to the top job at AMF Bowling Worldwide Inc., the world's largest owner and operator of bowling centers, where he guided the company into and out of Chapter 11 bankruptcy and reduced debt by two-thirds. He next ran American Golf, the world's largest owner and operator of golf courses, where he increased revenue and provided a 35 percent return rate to investors.

In 2006, he returned to Arby's, where he helped oversee the merger with Wendy's.

“Over the last several months, the selection committee evaluated more than 100 candidates in a rigorous process to find the right leader for this company,” said Nigel Travis, the lead director of Office Depot's board and chairman and CEO of Dunkin' Brands Group Inc. in Canton, Mass. “Roland is uniquely qualified for the newly combined Office Depot and OfficeMax. He has decades of experience integrating companies and cultures and an impressive track record in turning around businesses."

A graduate of the U.S. Military Academy, Mr. Smith served in the U.S. Army for seven years before beginning his corporate career.

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December 12, 2013 at 12:35 PM