TGT Target Corp

Office-supply seller Staples Inc. on Monday named a new head of its North American retail operations, the latest executive shift at the company as it tries to evolve to meet consumer needs.

Staples named Steve Matyas, a 25-year veteran of its Canadian business, as president of North American retail operations. Mr. Matyas had previously served as president of Staples Canada since July 2000. He was the first employee at Business Depot Ltd. in Canada in March 1991. Staples acquired Business Depot in August of 1994. Mr. Matyas also served as the company's vice president of operations, human resources and store planning, and sales and operations.

Interim Chief Executive Shira Goodman said Mr. Matyas has a "proven track record of delivering profitable growth and innovation," which will benefit the company as it attempts to combat a slowing retail industry.

"Realigning our retail leadership will strengthen our position as we continue to right-size our store network and evolve to meet the changing needs of business customers," said Ms. Goodman.

Staples named Ms. Goodman its interim CEO in May after its longtime chief executive Ron Sargent agreed to resign from his position following the retailer's failed attempt at a merger with Office Depot Inc. Mr. Sargent and the board had staked their company's future on the roughly $6 billion deal, which was blocked when a judge agreed with the Federal Trade Commission that the combination would lead to higher prices for large corporations that buy office supplies in bulk.

Both companies still sell billions of dollars of printer cartridges, paper reams and other workplace basics each year, but that market is in decline as more offices go digital. In addition, consumers are increasingly shifting toward online shopping with retailers like Amazon.com Inc. hurting sales in the traditional brick-and-mortar retail industry. Amazon said in May that Amazon Business sales topped $1 billion a year, as it continues to build its own business-focused delivery service.

Staples and many other U.S. retailers recently made modifications to store executive teams after a disappointing holiday sales season. In January, the office supplier replaced its recently-named head of North American stores and online operations, Demos Parenos, with Otis Pannel. At the time, Ms. Goodman was also promoted to president of North American operations.

Target Corp. earlier this year fired Chief Stores Officer Tina Tyler and tapped Janna Potts, its human resources chief, to fill the role after the company tested new online delivery methods for the holiday rush. Department store J.C. Penney Co. in January named Joe McFarland as its stores chief, replacing Tony Bartlett.

Staples stock has fallen 20% over the past three months. Shares were inactive premarket.

(END) Dow Jones Newswires

July 11, 2016 09:45 ET (13:45 GMT)

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