Staples 2005 Annual Report Download - page 6

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Brazil and Argentina, is also growing rapidly. We invested in infrastructure and
marketing in 2005 to support that growth.
Looking Forward
I’m tremendously proud of what the team has accomplished over the last two decades,
but I’m even more impressed with our people’s enthusiasm, energy and commitment to
keep driving our business forward. As we look to the future, Staples’ associates are
building our brand both through products and services that make it easy for our
customers, driving retail growth platforms like our copy and print business and new
market entries, improving our supply chain, gaining market share rapidly in our Delivery
businesses, leading a significant turn-around in Europe, and laying the groundwork for
rapid growth in China and South America. Staples’ building blocks for success -- great
execution, differentiation, and market leadership -- haven’t changed. But we’re not
standing still. As always, we continue to explore new arenas for growth, adding to a
robust portfolio of ideas that will drive our performance for many years to come.
I’d like to close by thanking our 69,000 associates for their superb performance in 2005.
In a year that offered plenty of challenges, the team stepped up to exceed many of our
financial goals, and made significant headway on the key initiatives that continue to
drive our business. There are four individuals retiring from their roles at Staples whom
I’d like to personally recognize for their contributions to our company’s success.
Senator George Mitchell has served on our Board since 1998 and provided us with
valuable political insight as well as leadership on governance issues during his tenure.
Dick Currie, a Board member since 2002, added great value through his wealth of
experience in retail and guided the development of our Staples brands program. Two
key leaders inside Staples also recently retired. Vice Chairman Joe Vassalluzzo, a
Staples pioneer who joined the company in 1989, was the driving force behind our
global real estate strategy and built a terrific growth and development organization
during his 17 year career. Basil Anderson will continue to serve on our Board, but has
retired from his role as Vice Chairman. Basil, with oversight for Finance and Strategy,
was a key architect of the Back to Brighton improvement program and instilled a strong
RONA discipline at Staples during his tenure. To each of these important players in
Staples’ success story, I offer my heartfelt gratitude and appreciation for their
outstanding leadership.
I would also like to thank our customers, suppliers, and shareholders for their on-going
support as partners in Staples’ growth.
Ron Sargent
Chairman of the Board and Chief Executive Officer
April 7, 2006
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