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Office Depot Inc.’s Chairman and CEO Steve Odland is stepping down by mutual agreement with the board.
The disclosure on Monday that Odland has resigned comes only days after the company, Odland and another executive agreed to pay civil penalties tied to Office Depot’s disclosure of corporate information to a select group of investors and analysts.
Office Depot Inc., its chief executive and a former executive agreed to collectively pay more than $1 million to settle regulator’s charges of improper disclosures, the Securities and Exchange Commission said Thursday.
The SEC had accused the company, its CEO Stephen Odland and former chief financial officer Patricia McKay of conveying to analysts and big investors that the company would not meet analysts’ earning estimates for the second quarter of 2007. Get the full story »
