Office Depot, Inc. announced that its Board of Directors has appointed Gerry P. Smith as Chief Executive Officer of the company, effective February 27, 2017. Gerry Smith will succeed current CEO Roland Smith, who previously announced his intention to retire from the company. An experienced executive, Gerry Smith currently serves as Executive Vice President and Chief Operating Officer at Lenovo Group.

During his time at Lenovo, he was instrumental in defining and leading the company's ambitious growth objectives and operational efficiencies, which drove increases in market share and profitability. In connection with this transition, the Board sought to diversify the overall corporate governance structure with the selection of an independent non-executive Board Chairman to lead the Board of Directors. Current Board member Joseph S. Vassalluzzo will become Chairman effective February 27, 2017.

Vassalluzzo joined the Office Depot Board in August 2013 and currently serves as Chair of the Finance and Integration Committee. He also serves as Non-Executive Chairman of the Board for Federal Realty Investment Trust and previously served as Lead Director for Lifetime Fitness. Earlier, he was employed by Staples, Inc., most recently as Vice Chairman.

In conjunction with his appointment as CEO, Gerry Smith will also join the Office Depot Board as a director.