Why the f--- did it take so f---ing long? Good riddance!
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Interesting article in the WSJ today.
Ron will continue to receive his salary and potential bonus for the current fiscal year, then will receive payments totaling $4 million over 24 months, as well as health insurance and other benefits worth about $875,000.
Ron used to provide his top level execs naming workers who splurged on overnight shipping or were ticketed for parking in the wrong spot at company headquarters.
Nothing's really changed except Ron's title. He still be on the board and the interim CEO will still be running the company. All it did was add $2 million annual "one-time" expenses for 2 years starting in 2017. Too little too late.
Smartest guy in the room....not.....
Staples own Enron knucklehead and his gang of idiots.
What a gig! Take over a company for 14 years, screw it up beyond recognition, cost the company hundreds of millions of dollars in the Office Depot defacto merger, focus on dot com and "reinvent" rather "screw up" the brick and mortar stores, lose hundreds of GOOD people, and walk away with millions and I am sure a big parachute at the end. He is hanging around till the end of the fiscal year to get any bonus he is due. WHAT A LOSER! Thanks for screwing up what once was the KING in the marketplace in office supplies. Don't blame computers, copiers etc. for reduced sales, blame this guy and his band of thieves, oops I am sorry "executives". Stemberg must be turning in his grave.
As happy as I am to hear Ron is going, I think it may be to late.
It will be interesting to watch though. Hopefully Shira and whomever takes the CEO position permanently work to reverse the negative culture Ron, Demos and Otis have spread through the company.
If you were one of the many screwed over by this company do not let this news dissuade you from taking action. Talk to a lawyer, who knows, they may settle.
"SPLS SVP here"
Good, Ron's going, Otis is exiled to the West. Now fire Vinnie.
He will be laughing all the way to the bank.
Jan 28, 2017...why wait for fiscal year to end. Wonder if he will get a severance pkg and file for unemployment
confirmed on seeking alpha
8 years too late