Office Depot on Monday said its chairman and CEO Steve Odland will resign on Nov. 1.

Board member Neil Austrian will serve as interim chief executive officer and chairman while the board searches for a replacement.

The Boca Raton, Fla., retailer said it expects third-quarter earnings of 3 cents a share, excluding a one-time gain of 15 cents a share, and revenue of $2.9 billion, compared to the Wall Street estimate for a loss of 2 cents a share and revenue of $2.9 billion, in a survey of analysts by FactSet Research.

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