Market Overview

OfficeMax Announces Departure Of Board Members DePinto And Montgoris

OfficeMax® Incorporated (NYSE: OMX), a leading provider of office and facility supplies, technology and services, today announced that directors Joseph DePinto and William Montgoris informed the Company that they would not seek to be appointed to the new Board of Directors following the proposed merger of OfficeMax Incorporated and Office Depot, Inc.

Mr. DePinto has served on the OfficeMax Board since 2006. Mr. Montgoris has served on the OfficeMax Board since 2007. Their departure from the OfficeMax Board is expected to be effective November 5, 2013, at the time of closing of the merger.

Ravi Saligram, President and CEO of OfficeMax, stated, "We are truly appreciative of the leadership, integrity and strong commitment to driving shareholder value that Joe and Bill have demonstrated as Board members. Joe's tremendous depth and breadth of retailing experience and Bill's superb financial and operational experience were invaluable as we navigated challenging industry dynamics and positioned the company for a transformative merger. We thank Bill and Joe for sharing their considerable insights and talents with OfficeMax and wish them much continued success in the future."

Mr. DePinto is the President and Chief Executive Officer of 7-Eleven, Inc.

Mr. Montgoris is the former Chief Operating Officer and Chief Financial Officer of The Bear Stearns Companies, Inc.

About OfficeMax OfficeMax Incorporated (NYSE: OMX) is a leading provider of products, solutions and services for the workplace, whether for business or at home. The OfficeMax mission is simple: We provide workplace innovation that enables our customers to work better. The company provides office supplies and paper, print and document services, technology products and solutions, and furniture to businesses and consumers. OfficeMax consumers and business customers are served by approximately 28,000 associates through OfficeMax.com, OfficeMaxWorkplace.com, and Reliable.com; more than 900 stores in the U.S. and Mexico, and direct sales and catalogs. OfficeMax has been named one of the 2013 World's Most Ethical Companies, and is the only company in the office supply industry to receive Ethics Inside® Certification by the Ethisphere Institute. To find the nearest OfficeMax, call 1-877-OFFICEMAX. For more information, visit www.officemax.com.

Posted-In: News Management

 

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