Office Depot chief executive Bruce Nelson resigns

DELRAY BEACH, Florida, Oct 4 (AFP) - Office supplies giant Office Depot announced Monday that its chairman and chief executive Bruce Nelson had resigned, but the Florida-based group gave no reason for his abrupt departure.
The company issued a statement saying Nelson's resignation had been "by mutual agreement," and said board member Neil Austrian, 64, will serve as interim CEO until a successor is found.
"I am committed to continuing the strategic direction that we have established to grow the business and improve financial performance," Austrian said in a statement.
Nelson said "I am proud of what I have accomplished over the past four years at Office Depot. I firmly believe that the company's best years are ahead."
Heidrick and Struggles is to assist in the search for a new CEO.
Around noon, Office Depot was trading up 12 cents, or 0.80 cents, at 15.20 dollars.