Office Depot Names New CFO

(JUNE 19, 2020) - Office Depot Inc has appointed Anthony Scaglione as its next CFO.

The North American reseller had been looking to fill this key management position since the departure of Joe Lower in January.

Scaglione will officially take up his role at Office Depot on 20 July. He comes to the company from $6.5 billion facilities management giant ABM Industries where he has been working for 11 years, the past five of those as CFO.

Reporting to CEO Gerry Smith, 47-year-old Scaglione is joining Office Depot at an interesting time in CFO terms. The company is about to adopt a new corporate holding structure, is likely to implement a reverse stock split at the same time, recently announced a ‘poison pill’ to block any unwanted, opportunistic takeovers, and is embarking on a major restructuring program. It also has a strong balance sheet and is sitting on plenty of cash – which may mean M&A activity to reinforce its B2B platform strategy. - (OPI)