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  "documentTitle": "Office Depot, Inc. (ODP)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-08-02 00:00:00",
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  "pageNumber": 6,
  "pageCount": 63,
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  "slideType": "key_messages",
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  "notes": "The slide uses a list-based argument structure to justify the need for new board members.",
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      "kind": "callout",
      "text": "We believe it is Clear that the Current Board Has Failed in its Oversight of the Company and that Shareholders Deserve and Require Board Representatives Who Are Not Only Incredibly Well-Qualified and Experienced, But Who Are Committed to Holding Management Accountable.",
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      "kind": "callout",
      "text": "We believe it is Clear that the Current Board Has Failed in its Oversight of the Company and that Shareholders Deserve and Require Board Representatives Who Are Not Only Incredibly Well-Qualified and Experienced, But Who Are Committed to Holding Management Accountable.",
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      "text": "To substantially improve the disastrous operating performance that has persisted under the watch of the current Board.\nTo ensure that key decisions during the pendency of the OfficeMax Merger, including the selection of the new CEO for the combined company, are properly overseen, unlike the questionable CEO search process conducted by the Board in 2010 that resulted in the appointment of a CEO with little to no background in retail.\nTo ensure that the five directors designated to the combined company board are the most qualified candidates with the most retail operating experience and relevant expertise.\nNotably, only two of the ten current Board members have any relevant retail operating experience outside of Office Depot, and none of the four incumbent directors we are seeking to replace have any relevant retail operating experience.\nTo greatly improve the Company's troubling corporate governance practices and ensure that all future decisions are made with the best interests of all shareholders as the primary objective. In the past year alone, the current Board has:\nAdopted an entrenching 15% “Poison Pill” in direct response to our involvement at the Company.\nUnnecessarily delayed the 2013 Annual Meeting.\nFailed to address concerns around the Company's compensation practices and board structure.",
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      "kind": "paragraph",
      "text": "Now more than ever, shareholders require and deserve well-qualified and committed representation in the boardroom for the following reasons:",
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      "kind": "title",
      "text": "Change is Necessary at This Critical Time for Office Depot",
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      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "Criticisms of the current board and management, highlighting their lack of retail experience and poor governance practices.",
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