Published October 13, 2015 4:29pm EDT | Updated October 13, 2015 8:05pm EDT

Staples Board Limits Senior Exec Severance Packages

Staples Inc. said late Tuesday its board approved a plan to limit severance packages for senior executives. The office supply retailer said it will not pay severance benefits under existing or future employment agreements that exceed more than three times an executive's base salary and bonuses, unless approved by shareholders. Staples shares were unchanged at $12.03 after hours.