The independent and non-executive directors of Corporate Express have been asked to resign by office supplies chain, Staples.
Ian Pollard, Tony Larkin, John Randall and Chris Gillies have been requested to step down from their roles on the board of directors.
CEO Paul Hitchcock, CFO Grant Logan and Staples associated directors, Michael Miles and Bjorn Maarud, will continue to serve on the board.
“The retiring directors would like to take this opportunity to thank shareholders, past and present, for their support of the company and its board,” Corporate Express said in its statement.
The changes come as the US-based Staples placed an unconditional takeover offer on Corporate Express that expired on July 26. After this date, any outstanding shares were compulsorily acquired.
The move by Staples values Corporate Express at $1 billion on an equity basis.