Staples CEO Passes on Pay Increase as Board Evolves

Staples didn't have a great year, so Chairman and CEO Ron Sargent won't accept a $31,000 base pay raise the board of directors had previously approved. The company announced that Sargent wouldn't accept the 2.5 percent pay increase, along with several noteworthy governance moves, including the appointment of an independent chair when Sargent retires.