Staples CEO steps down, replacement search commences
Alexander Douglas previously was an executive for Coke, which lost $2.4 billion in net operating revenues in 2016.
Framingham office supply retailer Staples, Inc. announced on Wednesday its CEO, Alexander “Sandy” Douglas would be stepping down as the company’s CEO, with an interim CEO taking the helm effective Friday.
The company did not immediately disclose why the sudden leadership change was taking place, noting only it was a mutual decision.
Douglas will be replaced by interim CEO John Lederer, who currently serves as executive chairman of the board.
The Staples board of directors has commenced a search process to name a permanent CEO.
“On behalf of the board, I would like to thank Sandy for his commitment and dedication to the company," Lederer said in a statement. "I look forward to working closely with Chief Financial Officer Jeff Hall and the rest of the senior management team to oversee the day-to-day operations of the company and execute on our growth strategy as the economic recovery in North America gains momentum.
Douglas assumed the position as CEO in 2018, previously serving as executive vice president of Atlanta soda company Coca-Cola Co. He also served as president of Coca-Cola North America.
Lederer previously led the Staples on interim basis before Douglas was hired, when the company was between CEOs after Shira Goodman left following the company's purchase by New York private equity firm Sycamore Partners.
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