NEW YORK (TheStreet) -- Staples (SPLS) announced leadership changes yesterday and pledged to make the company more efficient as it may have to compete without its planned merger with Office Depot (ODP), which has struggled to gain antitrust approval.
Demos Parneros, president of North American stores and Staples' online business, will resign by March 31, according to a company statement.
Shira Goodman will become president of North American operations and John Wilson will run international operations. Previously, Goodman was president of North American Commercial and Wilson headed Staples in Europe.
"We are streamlining the organization and building a simplified structure that will speed decision-making and enable us to focus on driving profitable growth," CEO and Chairman Ron Sargent said in a statement on Monday.
"These changes will help us compete in a rapidly evolving marketplace, either as a standalone company or in combination with Office Depot."
In December, the Federal Trade Commission sued to block the merger alleging that it would violate antitrust laws by limiting competition.
Shares of Staples closed down by 2.58% to $8.68 on Monday.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on Staples.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that the team has evaluated.
At the same time, however, it also finds weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SPLS