Staples Board Limits Senior Exec Severance Packages

By Wallace WitkowskiMarketWatch Pulse

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.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below