The ODP Corporation has confirmed that CEO Gerry Smith will return to work this week after a health-related leave of absence. Smith has been away from the business since September last year after undergoing a medical procedure. Now, the company has confirmed he will resume his role on 1 February. Joe Vassalluzzo, who has been
The ODP Corporation (ODP) shareholder AREX Capital Management has called for the company to be broken up. In an open letter to the reseller’s board, AREX said ODP should rekindle the spin-off of its consumer-facing Office Depot retail business (a project that was abandoned in 2022) and sell or shut down its Varis B2B procurement
The ODP Corporation’s (ODP) CFO Anthony Scaglione has said the group’s Federation strategy will target a broader range of product segments. Speaking at the Noble Capital Markets’ Emerging Growth Equity Conference in Florida this week, the CFO affirmed that, “over time”, a greater focus of the Federation initiative would be to shift the portfolio away
The ODP Corporation has earned validation from the Science Based Targets initiative (SBTi) for its Scope 1, 2 and 3 greenhouse gas (GHG) emissions targets. ODP’s goals include a commitment to reduce absolute Scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year. It has also committed to reducing Scope 3
The ODP Corporation (ODP) has said the strength of its balance sheet is helping it keep and win enterprise customers in its ODP Business Solutions division. During today’s third quarter conference call, CFO Anthony Scaglione referred on more than one occasion to ODP’s financial stability as being a source of comfort for large contract customers.