Office supply company, ACCO Brands Corporation (NYSE:ACCO), today, promoted its chief operating officer to become CEO of the company.
According to ACCO Brands Corporation (NYSE:ACCO), dealers in Swingline staplers, Day-time and other office products, Boris Elisman will take over March 31 from Robert J. Keller, who will step down from the position of CEO to become the executive chairman of the company.
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The company acknowledged Elisman efforts drove the company’s improved performance and positioned it for future growth.
“We are delighted that Boris Elisman will be ACCO Brands Corporation (NYSE:ACCO)’ next CEO. Our Board has worked closely with Bob on a carefully planned succession process to assure a smooth and seamless transition of leadership. As President and COO, Boris has worked side-by-side with Bob over the past two years to successfully develop and execute the Company’s strategy, and the timing is now right for Boris to step into the CEO role.” said Robert H. Jenkins in a statement.
Also instrumental in the $860 million acquisition of MeadWestvaco Corp. (NYSE:MWV)’s consumer and office products business in May, the 50-year old Elisman has worked at Acco since 2004. Prior to becoming president and COO, Elisman worked as the executive vice president and president of Acco Brands Americas.
Mr. Keller, 59, initially joined ACCO Brands as a member of the Board of Directors in 2005. In 2008, he was appointed chairman of the board and subsequently CEO.
Also acknowledging the services of the executive chairman of the company, Robert Jenkins, the independent director of Acco Brands said in a statement that Keller served the company as CEO in times when Acco went through a financial instability. Jenkins endorsed Keller for his efforts in helping Acco position itself back from the financial crunch.
“We are very pleased that ACCO Brands Corporation (NYSE:ACCO) will continue to benefit from Bob’s active involvement as Executive Chairman. Four years ago, Bob took the reins at a challenging time for the Company, ultimately restoring financial stability and positioning the business for long-term growth. We thank Bob for his extraordinary leadership,” Mr. Jenkins concluded.
Mr. Keller commented in a statement that the company is back on track to meet its earnings guidance for 2012, which the company issued with its third quarter earnings release.