/PRNewswire/ -- Express, Inc. Sam Duncan recently served as chairman, president and chief executive officer of Office Max. From 2002 to 2005, Mr. Duncan served as president and chief executive officer of Shopko Stores, Inc.
OfficeMax on Thursday that its third-quarter profit more than tripled to $20 million from $5.66 million a year earlier. Sales fell 1% to $1.81 billion. The company forecast lower fourth-quarter sales after quarter-to-date U.S. demand declined from the year earlier."Looking forward through the balance of 2010, we expect the macroeconomic environment to remain muted," chief executive Sam Duncan said.OfficeMax ended third quarter 2010 with a total of 998 retail stores, consisting of 920 locations in the United States and 78 stores in Mexico. During third quarter 2010, OfficeMax closed three U.S. stores.
OfficeMax said late Wednesday that Ravi K. Saligram will succeed Sam Duncan as CEO, effective Nov. 8.Saligram, 54, most recently was president of uniform retailer Aramark Corp. He will also hold the title of president and director at OfficeMax.Duncan, who also holds the titles of chairman and president, will step down on Nov. 7, but will remain a special advisor to the company until Feb. 28.
OfficeMax said Thursday that executive VP and COO Sam Martin has left the company, effective July 21, to become CEO of another public company. OfficeMax has not said where Martin is going.Chairman and CEO Sam Duncan will assume Martin’s COO duties, effectively immediately, and said the office supplies retailer will not immediately seek a replacement for Martin.However, the company announced earlier this year that Duncan himself is slated to retire in February 2011, noting that it had begun the search for a new CEO.Martin was named COO of OfficeMax in 2007. Duncan credits him as having had an integral