ODP Corporation Appoints New Board Members

The ODP Corporation has announced significant changes to its board of directors, with proven finance executives Amy Schioldager and Evan Levitt joining the board, and Wendy Schoppert being appointed as the new independent board chair. These changes will be effective on June 10, 2024, increasing the board size from seven members to eight.

Amy Schioldager, with over 25 years of experience at BlackRock, Inc., brings extensive leadership experience and expertise in global equity markets and client segments. She oversaw $2.5 trillion in assets under management and served on BlackRock’s global executive committee. She currently serves on the boards of Intermediate Capital Group PLC and Corebridge Financial Inc, as well as the private organization boards of Boardspan Inc and California State University – East Bay.

Evan Levitt, with over 30 years of experience in finance and accounting, was most recently the interim executive vice president and chief financial officer at BrandSafway. He also held various leadership roles at The Home Depot, Inc. / HD Supply Holdings over 17 years and currently serves on the boards of Artera Services and WASH.

The ODP Corporation, a leading provider of products, services, and technology solutions, operates through an integrated business-to-business distribution platform and omni-channel presence, including supply chain and distribution operations, dedicated sales professionals, and retail stores under the Office Depot and OfficeMax brands.

These changes come as the company continues to evolve its business and position itself for future profitable growth, with a focus on driving long-term profitable growth and shareholder value. Joseph Vassalluzzo, who has served as the independent chairman for the past seven years, will step down from the board after 11 years of service.

The average tenure of the directors on the board is approximately five years, and the company aims to leverage the unique backgrounds of the new board members to enhance its diverse skills and advance its value creation initiatives. The market has reacted to these announcements by moving the company's shares -0.9% to a price of $38.62. For more information, read the company's full 8-K submission here.

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