ODP Corporation (ODP) Announces Appoints Marcus B. Dunlop to Board of Directors
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The ODP Corporation (“ODP” or the “Company”) (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced the appointment of Marcus B. Dunlop, a partner at HG Vora Capital Management, LLC (“HG Vora”), to the Company’s Board of Directors. This appointment expands the Board to ten directors.
“We are pleased to welcome Marcus to ODP’s Board,” said Joseph S. Vassalluzzo, Chairman of ODP’s Board of Directors. “The perspective of an investment professional of one of our largest shareholders will be valuable as we continue our work in transforming the Company into a leading, integrated B2B provider of business solutions.”
Through its affiliates, HG Vora owns 9.5% of ODP’s common stock.
“ODP has made significant progress in pivoting its business to a compelling B2B platform and is committed to delivering superior shareholder value by continuing its growth initiatives and exploring potential strategic transactions,” said Dunlop. “I look forward to working with my fellow ODP directors as the Company continues its evolution.”
“We appreciate HG Vora’s support as one of the Company’s largest shareholders and look forward to Marcus’s contributions during this exciting time for our Company,” said Gerry Smith, Chief Executive Officer of ODP.
Dunlop has served as an investment professional at HG Vora since 2009, where he focuses on value oriented and event driven investments across the capital structure. Previously, he was an analyst at Goldman Sachs Group, Inc. in the Bank Debt Portfolio Group focusing on credit analysis and restructuring the debt of non-investment grade companies. Dunlop graduated from Illinois Wesleyan University summa cum laude with a Bachelor of Arts in Economics and Business Administration with a concentration in Finance.
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