Office Depot Gets Back on Track as Turnaround Gathers Pace

26.06.2018

Office Depot Gets Back on Track as Turnaround Gathers Pace

  • Appointment of new Chief Financial Officer and Chief Operating Officer

26th June 2018: Office Depot, the leading supplier of office equipment in Europe, is back on track after a period of change, with new senior management appointments and a renewed business strategy. The company, which was acquired by AURELIUS Equity Opportunities in January 2017, is forging ahead with a renewed focus on office services, solutions and e-commerce.

Office Depot, which includes the famous Viking brand, is widening its business strategy to become not only the leading office supplies company in Europe, but also a leading provider of office services and solutions to its client base of over 1.2 million small and mid-sized companies via its online channel, mail order service, and call centres.

Appointment of new Chief Financial Officer and Chief Operating Officer

As part of the new business focus, Office Depot has made two new senior appointments to its leadership team. Udo Heskamp, appointed as the Group’s new Chief Financial Officer (CFO), brings significant experience in finance and business administration gained in Europe and Asia, most recently as CFO/Managing Director of Nidec Secop. Patrick Dittli joins as Chief Operating Officer (COO), bringing strong experience from a number of larger international companies with operations across Europe, Asia, and North America such as Accenture, Nestlé and most recently METRO AG, where he was Global Director of Supply Chain. Patrick will be responsible for Office Depot’s European operations. All other members of the management team will remain in position.

Neil Maslen, CEO and CSO of Contract at Office Depot said:

“I am very pleased to announce that Office Depot is well on the road to recovery, with a new, experienced management team and a relentless drive to put our customers at the heart of everything we do.

Last year saw a period of stabilisation, as we worked closely with AURELIUS to successfully bring our business back on track. This year we are excited to be seeing the results of this stabilisation, with growth once again on the agenda, operating as one company with two great brands.

I am particularly pleased to welcome Udo Heskamp as our new Chief Financial Officer and Patrick Dittli as our new Chief Operating Officer. Both Udo and Patrick bring with them a wealth of experience and complete our new senior leadership team.”

Udo Heskamp, Chief Financial Officer at Office Depot said:

“I am very pleased to be joining Office Depot at such an important time in the business. I am looking forward to working with the rest of the leadership team to ensure sustainable growth across our markets and brands. Office Depot has a great history and reputation and I am excited to be part of the next phase of its development."

Patrick Dittli, Chief Operating Officer at Office Depot added:

"I am delighted to be joining Office Depot at such an exciting time for the business. Office Depot's reputation and customer service are second to none and I am looking forward to meeting my colleagues and our customers over the coming months."    

Office Depot is also celebrating a number of significant new business wins in H1 2018 including deals with European manufacturer Voestalpine, a well-known UK high street bank and UK high street retailer.