Office Depot Inc. said Monday that Chief Executive Roland Smith will retire from that position, after joining the office equipment retailer in November 2013. He will remain in the position until a successor is found, which is expected to be by the end of the first quarter. The company expects Smith to remain as chairman of the board. Among other executive moves, made as part of a strategic plan that includes the consolidation of its retail, contract, ecommerce and omni-channel marketplace, Troy Rice was named to the newly-created position of chief operating officer, North America. Office Depot’s stock, which is still inactive in premarket trade, has plunged 38% year to date, while the SPDR S&P Retail ETF has climbed 6.2% and the S&P 500 has gained 6.9%.
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