Office Depot CEO May Get $47 Million Following Staples Purchase

Office Depot Inc. Chief Executive Officer Roland C. Smith may earn $46.8 million following the company’s planned sale to Staples Inc., the world’s largest office-supplies retailer.

Smith would get $39.3 million from accelerated vesting of equity awards, which he received during his 16 months at the company, once the deal is completed, according to a regulatory filing last week. He also would get $7.5 million in cash if his role changes following the acquisition. Staples CEO Ronald L. Sargent, or whoever is head of Staples before the purchase is finalized, will lead the combined company, the filing shows.