Staples President of North American Stores to Leave

Staples Inc. said its president of North American stores, Demos Pareros, has resigned, effective March 31, amid a broader reshuffling of executives at the office-supply chain.

The company said the changes are aimed at streamlining the organization and speeding up decision-making. The moves come as Staples has been g rappling with U.S. antitrust regulators over its agreed-upon merger with Office Depot Inc.

"These changes will help us compete in a rapidly evolving marketplace, either as a stand-alone company or in combination with Office Depot," Chief Executive Ron Sargent said. The companies last week said they plan to extend the deadline for their tie-up by about three months.

Staples didn't give a reason for the departure of Mr. Pareros, a company veteran of nearly 30 years. A call seeking further comment wasn't returned.

The company said Otis Pannell, senior vice president of U.S. retail operations, will oversee the division. Mr. Pannell was hired by the company in 1989.

In other moves, Staples said Shira Goodman was shifting to the role of president of North American operations from her previous role as president of North American Commercial. Ms. Goodman joined Staples in 1992, filling several senior positions including strategy, marketing and operations.

Additionally, John Wilson, currently president of Staples Europe, will become president of international operations and transformation. Mr. Wilson served as chief financial officer from 1992 to 1996 before rejoining the company in 2012.

Staples agreed to buy Office Depot in February in a cash-and-stock deal worth $6.3 billion at the time. The Federal Trade Commission filed a lawsuit in December to block the deal, arguing that a tie-up of the last large national office-supply chains would eliminate important competition. Court proceedings are expected to begin in March.

Write to Ezequiel Minaya at [e-mail]

(END) Dow Jones Newswires

January 25, 2016 17:45 ET (22:45 GMT)

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