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Information technology services industry

ACCO Brands Corporation Appoints New Chief Financial Officer

Strategic Insights

— 2 min read

ACCO Brands Corporation, a leading manufacturer of academic, consumer, and business products, has announced the appointment of Deborah A. O'Connor as Executive Vice President and Chief Financial Officer, effective April 4, 2022. O'Connor will succeed Neal V. Fenwick, who will retire in August 2022 after a long and distinguished career with the company.

O'Connor brings a wealth of experience to her new role, having served as President and Chief Financial Officer of True Value Company from 2020 to 2021, and prior to that as Senior Vice President and Chief Financial Officer from 2015 to 2020. She has also held various executive positions at Office Max/Office Depot, including Senior Vice President of Integration, and Senior Vice President and Chief Accounting Officer.

"We are excited to have Deb join ACCO Brands and help lead our transformation to a faster growing brand-, consumer- and technology-centric company," said Boris Elisman, ACCO Brands Chairman and Chief Executive Officer.

In connection with O'Connor's appointment, Fenwick will step down as Chief Financial Officer and serve as an executive advisor to ensure a smooth transition. The company has also entered into an offer letter with O'Connor, setting out the terms of her employment and compensation, including an initial annual base salary of $540,000 and eligibility for an annual cash incentive award with a target amount of 75% of her base salary.

Key Takeaways:

  • Deborah A. O'Connor has been appointed as Executive Vice President and Chief Financial Officer of ACCO Brands Corporation, effective April 4, 2022.
  • O'Connor will succeed Neal V. Fenwick, who will retire in August 2022 after a long and distinguished career with the company.
  • O'Connor brings extensive experience to her new role, having served as President and Chief Financial Officer of True Value Company and held various executive positions at Office Max/Office Depot.
  • The company has entered into an offer letter with O'Connor, setting out the terms of her employment and compensation.
  • O'Connor will receive an initial annual base salary of $540,000 and will be eligible for an annual cash incentive award with a target amount of 75% of her base salary.
  • Fenwick will step down as Chief Financial Officer and serve as an executive advisor to ensure a smooth transition.

Statistics:

  • Deborah A. O'Connor's initial annual base salary will be $540,000.
  • O'Connor will be eligible for an annual cash incentive award with a target amount of 75% of her base salary, which would be $405,000.
  • O'Connor's equity awards will have an aggregate target value of $955,000, comprised of 50% performance-based stock units, 25% time-based restricted stock units, and 25% stock options.

Sources:

  • ACCO Brands Corporation press release, dated March 15, 2022.
  • Form 8-K filed by ACCO Brands Corporation with the Securities and Exchange Commission on March 14, 2022.
  • Cybernet Data Systems, Inc., "FOR IMMEDIATE RELEASE" news article, dated March 15, 2022.

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