Staples 2014 Annual Report Download - page 4

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results in categories like cleaning and breakroom supplies,
and mailing and shipping supplies. We’re also pleased with
the growth we achieved in shipping services, driven by our
expanded relationship with the United States Postal Service.
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improve the customer experience. We streamlined our pan-
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the early stages of a multi-year plan to streamline our enterprise
resource planning systems and consolidate our supply chain
and customer service centers. Most importantly, we’re focused
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and we rolled out a new online platform to provide an improved
customer experience.
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The investments we made to accelerate growth and reinvent
Staples have been fueled by aggressive cost reductions
across our company. During 2014, we achieved more than
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have been the direct result of challenging norms across the
company, changing the way we work, increasing productivity,
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customer service. We reduced product costs, streamlined
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cost structure, reallocated marketing spend, and eliminated
information technology costs. We’re on track to take an
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structure in 2015.
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The progress on our strategic reinvention is a result of the
strength, experience and persistence of Staples’ management
team and Board of Directors. We’re responding to the chang-
ing needs of customers, aggressively reducing expenses, and
competing with a much wider set of competitors in categories
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reinvention, we also remain committed to carefully consider-
ing other strategic options. In early 2015, we announced the
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It will better position us to accelerate our reinvention and more
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regulatory approvals and we expect the deal will close by the
end of 2015.
I’d like to thank our Board of Directors for their leadership and
for their ongoing commitment to engaging in constructive
dialogue with our shareholders. Our Board has a strong track
record of responding to shareholder feedback, and its focus on
strong corporate governance and value creation have been key
drivers of Staples’ long-term success. Bob Nakasone, our inde-
pendent lead director, will retire from our Board at our 2015 an-
nual meeting after 28 years of outstanding service. Justin King
will not stand for re-election to our Board after providing valued
leadership for the past seven years. I’d like to thank Bob and
Justin for their hard work and dedication. I’m excited that we
are nominating Paul-Henri Ferrand, Vice President of U.S.
Sales and Operations at Google, and Kunal Kamlani, Former
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ings, for election to our Board of Directors. We look forward to
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they will help us continue to build value for our shareholders
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In closing, I’d like to thank our customers, suppliers and
shareholders for their continued trust in Staples. I’d also like to
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ment. In 2015, we’ll continue to focus on our key reinvention
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made to accelerate sales and earnings growth. We’ll develop
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achieving our vision to become the product destination for
businesses.
Sincerely,
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April 2015
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