The top job at a combined Office Depot and OfficeMax won't belong to Neil Austrian or Ravi Saligram, but neither office-supply company chief executive will go away empty-handed. If the merger closes as expected, each will collect millions as they exit their respective companies and a new CEO is appointed. Austrian, who is retiring from Office Depot, will get $15 million to $16 million in a "golden parachute," depending on the stock price at closing. OfficeMax's Saligram is expected to reap about $13.5 million, said Aaron Boyd, director of governance research at Equilar, an executive compensation data firm.

Kevin Peters, president of North American operations for Office Depot, has left the company for a CEO position at an industrial distribution company, the retailer announced Friday. The office supplies retail giant announced that the separation was effective immediately and Neil Austrian, chairman and CEO, will oversee the company's North American business.

Boca Raton, Fla. -- Office Depot said Monday that it has promoted current executive VP, corporate strategy and new business development Steve Schmidt to the position of president international. Schmidt, who will report to CEO Neil Austrian, will oversee Office Depot’s multichannel International business.

BOCA RATON, Fla. -- Office Depot (NYSE: ODP) announced that Charlie Brown, President, International Division, is leaving the organization effective today. “Charlie Brown was terminated for having an improper relationship with another associate,” said Neil Austrian, Office Depot’s Chairman and Chief Executive Officer. “The company has a zero tolerance policy in this regard. Our business leadership in Europe and Asia will now report to me, and Mike Newman, Executive Vice President and Chief Financial Officer, will assume responsibility for our joint venture with Office Depot de Mexico as well as our overall Latin American development.” About Office Depot

Boca Raton, Fla. — Office Depot Inc. announced Wednesday that it has appointed Kevin Peters as president, North America, a new position that combines the company’s previous North American Retail and North American Business Solutions divisions. Peters was previously president of North American Retail. “For the first time, we are consolidating all of our North American operations under one leader, allowing us to break down silos, increase our productivity and improve the execution of our key initiatives,” said Neil Austrian, chairman and CEO. Other management changes announced by Office Depot on Wednesday included: Bob Moore was named executive VP

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