Joseph T. Lower, EVP and CFO, has left Office Depot Inc. effective January 10, 2020, to assume the role of CFO at AutoNation, Inc. Office Depot announced Lower’s resignation in November and has initiated a search for a new chief financial officer.

“We are grateful to Joe for his leadership over the past two years in advancing our transformation efforts and wish him every success in the future,” said Gerry Smith, Office Depot’s CEO. “Joe is supported by an outstanding finance organization that will continue to serve the company and its shareholders well.”

Joe Lower said, “It has been a tremendous career experience working at Office Depot and I am proud of the progress we have made toward achieving our strategic goals. Office Depot is well positioned with a strong balance sheet to continue along its transformation and create shareholder value.”

Source: Office Depot