Aug. 16, 2013
/PRNewswire/ -- United Stationers Inc. (NASDAQ: USTR) United Stationers Inc. today announced that
, senior vice president and chief financial officer, has decided to leave the company to accept a position with another firm. "We respect Fareed's decision to leave the company and we thank him for his many contributions to United Stationers," said
, president and chief executive officer.
The company further announced that
has been appointed to senior vice president and chief financial officer of United Stationers Inc., effective immediately. Mr. Shelton is currently president of United Stationers Supply and has held several key business and financial leadership roles during his 12 years at United Stationers.
"We are pleased to name Todd as our new CFO," said Phipps. "Todd brings a unique blend of finance and operating skills and an in-depth knowledge of the business to the role. I am very confident in Todd's ability to lead our talented finance organization, work closely with our business leaders and represent the company effectively in the investment community. On an interim basis, I will assume direct responsibility for leading the Supply business team. Our senior leadership team remains very strong as we continue to drive the business towards the strategic and financial objectives we have established," concluded Phipps.
This news release contains forward-looking statements that are not strictly historical in nature. These statements are based on management's current expectations, forecasts and assumptions. This means they involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied here. These risks and uncertainties include, but are not limited to the following: United's reliance on key customers, and the risks inherent in continuing or increased customer concentration; United's ability to maintain its existing information technology systems and the systems and eCommerce services that it provides to customers, and to successfully procure, develop and implement new systems and services without business disruption or other unanticipated difficulties or costs; the creditworthiness of United's customers; and the availability of financing sources to meet United's business needs.