OfficeMax Headquarters to Stay in Naperville - For Now

After merger plans were announced in February with rival Office Depot, Naperville-based OfficeMax Inc. will keep its headquarters in the city - at least until a new CEO is named.

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Both companies named committee members to oversee the search for a new CEO Tuesday. The office supply companies also received a request for more information regarding the details of the $1.2 billion all-stock deal from the Federal Trade Commission, according to a joint statement.  

OfficeMax and Office Depot are prevented from closing the transaction until 30 days after they have "substantially complied" with the request, or the waiting period is terminated by the FTC, according to the statement.

Other details of the merger such as the fate of OfficeMax's Naperville headquarters, 263 Shuman Blvd., the entity's name and CEO are expected to be announced after a new CEO is hired. 

Office Depot CEO Neil Austrian and OfficeMax CEO Ravi Saligram, as well as outside candidates, will be considered in the search process.  

Along with its headquarters in Naperville, OfficeMax has one store location in the city at 790 Royal St. George Dr. Office Depot has two locations in Naperville, 1363 Ridgeland Ave. and 740 Route 59.

OfficeMax, based in Naperville, has roughly $7 billion in annual sales, 29,000 employees and about 900 stores in the US and Mexico. Office Depot, based in Boca Raton, Florida, has 1,675 stores world-wide, annual sales of some $11.5 billion and about 39,000 employees.