Office Depot Names New CEO

He formerly headed a supermarket unit


OfficeDepot Office Depot Names New CEOShares of Office Depot (ODP) climbed almost 3% in Wednesday morning trading after the company announced that it had tapped a former Delhaize executive as its new head.

Roland Smith, who previously ran Delhaize Group’s U.S. grocery business, will take the reins of the nation’s second largest office supply chain. The move follows the completion of ODP’s merger with smaller rival OfficeMax, Reuters notes.

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Smith succeeds the former CEOs of ODP and OfficeMax, who briefly co-headed the combined company. Both have now departed.

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