The ODP Corporation Appoints Max Hood Senior Vice President, Chief Accounting Officer & Controller

Rhea-AI Summary

The ODP Corporation (NASDAQ:ODP) has appointed Max Hood as Senior Vice President, Chief Accounting Officer & Controller, effective February 26, 2023. Hood, who joined ODP in 2018, will oversee Accounting, Financial Systems, and External Reporting. His previous experience includes roles at GE, where he served as Global Operations Controller for a $10B energy division. The company is consolidating finance functions to enhance efficiency. Changes in finance leadership also involve Tim Perrott, Lauren Werle, and Adam Haggard taking on expanded roles. ODP will announce Q4 and full-year 2022 financial results on March 1, 2023.

Positive

• Max Hood brings extensive experience and expertise to the finance team.
• Organizational changes are aimed at improving efficiency and collaboration.

Negative

• No significant experience continuity concerns were noted with the new appointments.

BOCA RATON, Fla.--(BUSINESS WIRE)-- The ODP Corporation (“ODP”) (NASDAQ:ODP), a leading provider of products, services and technology solutions through an integrated business-to-business (B2B) distribution platform and omnichannel presence, today announced the appointment of Max Hood as Senior Vice President, Chief Accounting Officer & Controller, effective February 26, 2023.

Hood will report to Executive Vice President & Chief Financial Officer Anthony Scaglione and will continue leading and directing the activities of Accounting, Financial Systems, and External Reporting for the company.

Hood joined the company in 2018 as VP, Financial Operations and was named VP, Accounting & Treasury in March 2021. Prior to joining The ODP Corporation, he held progressive roles at GE, including Global Operations Controller for a $10B energy division. Hood has a dual Bachelor of Science degree in Accounting and Management Information Systems from Miami University in Oxford, Ohio and he is a Certified Public Accountant.

“Max continues to bring a wealth of expertise to our team,” said Scaglione. “His deep understanding of accounting principles, financial analysis and regulatory compliance is invaluable as we continue transforming our business.”

This appointment represents a continuation of recent efforts to optimize the company’s operations by consolidating key finance functions to simplify our operating model and drive even stronger collaboration and efficiency.

As part of these efforts, additional finance leadership role changes include the following:

• Tim Perrott, VP Investor Relations, has assumed an expanded role leading both the Investor Relations and Treasury functions.
• Lauren Werle, VP Audit, will continue to lead the Audit organization and has assumed an expanded role leading Loss Prevention.
• Adam Haggard, VP Financial Planning & Analysis, has assumed an expanded role leading Property Development, Strategy and FP&A.

“These organizational changes reflect our ongoing commitment to furthering process improvement, strengthening our bench of talent and driving efficiencies in how we work together as a company,” said Scaglione. “Our goal is to create a more agile finance organization that can adapt quickly to the changing needs of our business while positioning us to continue delivering value to our customers and shareholders.”

The ODP Corporation will announce fourth quarter and full year 2022 financial results before the market open on Wednesday, March 1, 2023. The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will be accessible to the media and the general public.

About The ODP Corporation
The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, a B2B digital procurement solution, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; Veyer, LLC; and Varis, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Varis is a trademark of Varis, LLC. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. Any other product or company names mentioned herein are the trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005714/en/

Tim Perrott

Investor Relations

Tim.Perrott@theodpcorp.com

Jennifer Robins

VP, Culture and Communications

Jennifer.Robins@theodpcorp.com

Source: The ODP Corporation

FAQ

Who is Max Hood in ODP Corporation?

Max Hood has been appointed as Senior Vice President, Chief Accounting Officer & Controller at ODP, effective February 26, 2023.

What are the recent leadership changes at ODP Corporation?

ODP announced multiple leadership changes in finance, including Max Hood's promotion and expanded roles for Tim Perrott, Lauren Werle, and Adam Haggard.

When will ODP Corporation announce its Q4 and full year 2022 financial results?

ODP Corporation will announce its financial results before the market opens on March 1, 2023.

What is the purpose of the leadership changes at ODP Corporation?

The leadership changes aim to optimize operations, improve efficiency, and strengthen collaboration within the finance organization.