Staples President Steps Down

Effective As Of Feb. 2, 2013

Staples President Steps DownStaples Inc., the parent company of Top 40 distributor Staples Promotional Products (asi/120601), announced yesterday that President and COO Michael Miles will leave the organization as of February 2, 2013. Miles, who has been with Staples for the past 10 years, will be joining Berkshire Partners, a Boston-based investment firm.

"The board and I thank Mike for his leadership and service over the past decade," said Ron Sargent, Staples' chairman and CEO. "Mike brought new energy to our brand, drove growth in our services business, and restructured and integrated our international operations. We wish him all the best."

Following Miles' departure, Sargent will add the president title and will assume the day-to-day operational responsibilities of the company. With office-supply retail outlets across the globe, Staples has annual sales of about $25 billion. Staples Promotional Products is the largest distributor in the ad specialty industry, as Counselor estimates it to have annual sales of nearly $400 million.