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OfficeMax and Office Depot Hire Consultant for CEO Search

As the merger between office products suppliers OfficeMax (NYSE: OMX  ) and Office Depot (NASDAQ: ODP  ) wends its way through the regulatory process, they've hired global talent management consultancy Korn/Ferry International (NYSE: KFY  ) to begin the process of finding a CEO to lead the combined companies once the deal is completed.

Dennis Carey, vice chairman of Korn/Ferry International, is leading the search.

While individuals outside of the respective companies will be included in the search process, both CEOs at the merging companies will be considered as well. Both Neil Austrian of Office Depot and Ravi Saligram of OfficeMax will remain in their current positions throughout the search process, which is anticipated to be completed by the time the transaction closes. The merger, which was announced on Feb. 20, is expected to close by the end of 2013, and is subject to shareholder approval, receipt of regulatory approvals, and the satisfaction of other customary closing conditions.

Korn/Ferry was chosen by the CEO selection committee that had previously been appointed for the task. The committee is co-chaired by Office Depot board member Nigel Travis, who is also chairman and CEO of Dunkin' Brands, and OfficeMax board member Jim Marino, the former president and CEO of Alberto Culver.


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