Staples, Inc. (NASDAQ:SPLS) Gives Kunal S. Kamlani A Place In Board of Directors

Staples, Inc. (NASDAQ:SPLS) has announced that Kunal S. Kamlani will be a part of its Board of Directors in the future. As per the reports, the decision has been taken to strengthen the senior leadership team and diversify the board.

Read what this analyst has to say about the fundamentals of SPLS.

Background of Kunal S. Kamlani:

The decision of nominating Mr. Kamlani for the election of Board of Directors was taken during the annual general meeting of the company. It’s not the first time when Kamlani has been handed over a senior leadership role. He previously worked with Prestige Cruise Holdings as its President and Chief Executive Officer between 2011-2014. Prestige Cruise Holdings is the parent company of Regent Seven Seas Cruises and Oceania Cruises. Apart from these two leadership positions, he was also worked as the Chief Financial Officer in the company for a period of one year in 2010-11.

Before joining to Prestige Cruise Holdings, he also worked with Bank of America/Merrill Lynch as head of the Global Investment Solutions and looked after off-shore investments and other international products. He was with Smith Barney before joining Bank of America. As per the reports, Mr. Kamlani worked as the Chief Operating Officer and Managing Director.

He believes in getting the expert knowledge of the industry before launching a new product for gaining a long term success. Even though Staples has nominated him for elections of the board of directors, but Mr. Kamlani already works as a member of Board of Sears Holdings Corporation. He looks after the corporate matters as well as the audit committee of the company.

Mr. Kamlani recently signed an agreement with Starboard Value before meeting with the Nominating and Corporate Governance Committee of Staples, Inc. (NASDAQ:SPLS), which approved his application and made him a nominee for elections. It’s the effect of Mr. Kamlani’s agreement with Starboard that it has agreed to support all the nominees for the 2015 elections.

 

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Brown Terrel

Brown Terrel

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.