Background. As An Office Supply Retailing Company, Staples

Better Essays

As an office supply retailing company, Staples was founded by Leo Kahn and Thomas G. Stemburg on May 1, 1986 in Brighton, Massachusetts, and the current headquarter is located in Framingham, Massachusetts. The company is operating over 3000 stores in 26 countries selling office supplies, promotional products, technology and business services via online or physical stores. Staples had its Initial Public Offering on April 27, 1989, and 3,250,000 shares were sold at $19.00 per share at that time. The company became a Fortune 500 company in 1996, and it is ranked as #497 in 2017. Now Staples’ stock is traded on the NASDAQ with the ticker symbol: SPLS. In order to better the communication with the market, the company releases the …show more content…

Total compensation is $9,863,575 for Sargent in 2015. His compensation consists of $1,249,208 base salary and $8,225,007 stock reward.

As the CEO of Staples, Ronald Sargent believes that a democracy management style can urge the Executive Committee to act in the best interests of shareholders. In the annual report, we can see that most senior executives are responsible for collaborating with the Audit Committee to provide oversight to the risk management. Top management has a very close relationship with subordinate teams. Senior members of management make up an Enterprise Risk Committee to control the risk of the company. They have very close collaboration to share information and thoughts for all types of risks. Independent directors also regularly meet without management present to discuss the company 's strategy. A diversity management team is very important to Staples. Board of directors is consisted of the people who has different experience, skills, gender and ethnic backgrounds.

Management & Stockholders
Although stockholders are not directly participated in the management team of the company, it has adopted a series of methods to keep the company head in the direction to fully represent the interest of shareholders and maximize their profit. The Staples Board is established and committed to highly

Get Access