Staples, Inc. Announces CEO Transition

FRAMINGHAM, Mass., June 16, 2021 /PRNewswire/ -- Staples, Inc. (the "Company"), the owner and operator of the Staples North American Delivery business, today announced that the Company and J. Alexander (Sandy) M. Douglas, Jr. have mutually agreed that Mr. Douglas will step down as Chief Executive Officer. John A. Lederer, Executive Chairman of the Board, will be appointed interim CEO of the Company. These changes will be effective as of Friday, June 18, 2021.

The Company's Board of Directors has commenced a search process to identify a permanent CEO.

"On behalf of the Board, I would like to thank Sandy for his commitment and dedication to the Company," Mr. Lederer said. "I look forward to working closely with Chief Financial Officer Jeff Hall and the rest of the senior management team to oversee the day-to-day operations of the Company and execute on our growth strategy as the economic recovery in North America gains momentum. As we look ahead, we remain sharply focused on delivering strong performance and the critical products and services required for America's successful return to work."

Mr. Lederer has served as Executive Chairman of the Board of Staples, Inc. since 2017 and as a Senior Advisor at Sycamore Partners since 2017.

About Staples, Inc.
Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about helping businesses work better. Headquartered outside of Boston, MA., Staples, Inc. operates primarily in North America.

Contacts:
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

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SOURCE Staples, Inc.