Kevin Peters Out As Office Depot President

Kevin Peters, Courtesy Office Depot.

Kevin Peters, Courtesy Office Depot.

BOCA RATON, FL (BocaNewsNow.com) — Boca Raton-based Office Depot (NYSE:ODP) has just announced that Kevin Peters has resigned as president of the office supply chain.

He is reportedly joining another company. The separation is immediate.

Peters was appointed President of Office Depot in 2011 after serving in another role for the company. Public records show he earned $1.8-Million in 2011, taking into account salary, bonuses and stock.

Office Depot had a somewhat tumultuous year when it came to stock, with its high of $3.81 being reached in March, and it’s low of $1.51 coming in September. ODP closed up Friday at $3.66. Office Depot — and it’s competitors — have had a difficult time finding a niche against powerhouse online retailers like Amazon.com.

No permanent replacement was immediately named.