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Environmental, Campaign & Website News > Office Depot shareholders' meeting

Office Depot shareholders' meeting

Date : 5th May 2003, Source : Sun Sentinel


Here's an article from Friday's South Florida Sun-Sentinel about Office Depot's shareholder meeting Thursday. The print addition included the subhead, "Activists Grab Spotlight at Meeting."

http://www.sun-sentinel.com/business/local/sfl-zoffice02may02.story


Office Depot CEO defends `green' policies to environmentalists

By Marcia Heroux Pounds
Business Writer
Posted May 2 2003

Office Depot's signature colors of red, white and blue turned green for the office supply company's annual meeting Thursday.

Chief Executive Bruce Nelson spent a good part of the shareholders' meeting trying to dispel charges by environmental organizations. He noted that outside the hotel meeting, a small plane was flying overhead trailing a banner that read, "Office Depot Destroys Forests."

ForestEthics, the Dogwood Alliance and other groups spent two years campaigning to force Office Depot's competitor Staples Inc. to agree to increase the average recycled content of its paper to 30 percent.

At the meeting, Nelson addressed Office Depot's new environmental initiatives, announced on Earth Day a little over a week ago.

He said Delray Beach-based Office Depot will give preference to products made with recycled materials, work with suppliers to increase recycled material in paper products it distributes, and will not knowingly use products of wood fiber from forests that are "rare and at risk."

Bill Holland, spokesman for San Francisco-based ForestEthics, says the initiatives don't solve the problem.

His organization wants to see Office Depot agree to phase out use of products from endangered forests, such as the Boreal Forests in northern Canada.

Nelson said the environmental organizations campaigning against Office Depot were offering a "distorted view of a very complex issue, full of inaccuracies and half-truths."

Office Depot is working with GreenOrder, an environmental auditing firm, to help the company work on its green initiatives.

Nelson also emphasized the office supply chain's planned redesign.

The first so-called "millennium" store will open in three weeks, he said. The concept is to arrange products according to use, such as the new "Ink Depot," for printing and fax products.

In voting at the annual meeting, Office Depot shareholders went with the recommendations of management in all but one proposal.

Against the company's recommendations, stockholders voted for a shareholder rights proposal that addresses shareholders' right to vote on the use of a so-called "poison pill," an anti-takeover weapon.

The company adopted a poison-pill plan in 1996.





Document last updated on Tuesday 30 August 2011

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