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Posted 18 September, 2023

ODP Corp appointed new CEO

CEO Change detected for ticker Nasdaq:ODP in a 8-K filed on 18 September, 2023.


  On September 18, 2023, The ODP Corporation (the "Company") announced that Gerry P. Smith, the Chief Executive Officer of the Company ("CEO"), began a temporary medical leave of absence to undergo a medical procedure that requires several weeks of recovery. Effective immediately, the Board of Directors of the Company (the "Board") has appointed Joseph S. Vassalluzzo, the Company's non-executive Chair of the Board, to assume Mr. Smith's authority and responsibilities until Mr. Smith returns from his medical leave.  

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Overview of ODP Corp
Retail/Wholesale • Specialty Retail
The ODP Corp. is a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the following divisions: ODP Business Solutions, Office Depot, Veyer, and Varis. The ODP Business Solutions division provides solutions to small, medium and enterprise level companies, including those in the public and education sectors. The Office Depot division covers the provision of solutions through omni-channel platform of 980 Office Depot and OfficeMax retail locations in the United States, Puerto Rico and the U.S. Virgin Islands, and an eCommerce presence. The Veyer division is the supply chain, distribution, procurement, and global sourcing operation. The Varis division includes the tech-enabled B2B indirect procurement marketplace. The company was founded in 1986 and is headquartered in Boca Raton, FL.
Market Cap
$1.89B
View Company Details
ODP Corp by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

On September 18, 2023, The ODP Corporation (the "Company") announced that Gerry P. Smith, the Chief Executive Officer of the Company ("CEO"), began a temporary medical leave of absence to undergo a medical procedure that requires several weeks of recovery. Effective immediately, the Board of Directors of the Company (the "Board") has appointed Joseph S. Vassalluzzo, the Company's non-executive Chair of the Board, to assume Mr. Smith's authority and responsibilities until Mr. Smith returns from his medical leave. 

Mr. Vassalluzzo has served as the independent non-executive Chairman of the Board since February 2017 and has served as a member of the Board since August 2013. From 2002 to 2021, he served as a director of the Federal Realty Investment Trust, where he was chairman of the board of trustees. Mr. Vassalluzzo was previously a director of LifeTime Fitness, from 2006 to 2015, where he was its lead director and chair of the compensation committee. Mr. Vassalluzzo was employed by Staples, Inc. ("Staples") from 1989 until 2005 and his duties included worldwide responsibility for all of Staples' real estate activities, including, but not limited to, the development and management of all retail stores; distribution; office and warehouse centers; international operations; engineering, construction and design activities; facilities management; M&A activities; and the Legal Department function. Mr. Vassalluzzo also served as Staples' vice chairman from 1999 to 2005.