The office-products retailer said it was the right time to seek a new leader who can take the company to the next level.
Office Depot said Neil R. Austrian, 64, a veteran member of the company's board and chairman of the finance committee, will serve as interim chairman and chief executive officer while the board conducts a search for a permanent replacement.
The company has hired Heidrick & Struggles International Inc. to assist in the search.
Austrian, who will relocate to Florida from Connecticut, has been a member of the company's board since the 1998 merger between Office Depot and Viking Office Products, where he had been a board member since 1988.
Notable deaths of 2014 [PHOTOS]