One of the more interesting governance issues in any merger of equals transaction is determining which Chief Executive Officer will take the helm of the combined company. OfficeMax and Office Depot announced the signing of a definitive merger agreement on February 20, 2013 under which the two companies agreed to combine in an all-stock merger of equals transaction. In most merger of equals transactions, the parties agree in advance on who will head up the combined company as CEO. However, the parties in the OfficeMax and Office Depot merger deferred this decision to a Selection Committee.
The Selection Committee will … Continue Reading