Changing of the financial guard at United Stationers
DEERFIELD, Ill. — United Stationers has announced that SVP and CFO Fareed Khan has decided to leave the company to accept a position with another firm.
The company hired Khan as its CFO in 2011 to replace Victoria Reich, who announced her resignation in 2010. Prior to joining United Stationers, Khan spent 12 years at USG Corporation, a building materials company. He held various positions of increasing responsibility there, including director of strategy and business development, VP of marketing and president of the company's largest division, USG Building Systems.
"We respect Fareed's decision to leave the company and we thank him for his many contributions to United Stationers," said Cody Phipps, president and CEO.
The company has appointed Todd Shelton in Khan's place. Shelton is currently president of United Stationers Supply and has held several key business and financial leadership roles during his 12 years at the company.
"We are pleased to name Todd as our new CFO," added Phipps. "Todd brings a unique blend of finance and operating skills and an in-depth knowledge of the business to the role. I am very confident in Todd's ability to lead our talented finance organization, work closely with our business leaders and represent the company effectively in the investment community. On an interim basis, I will assume direct responsibility for leading the supply business team. Our senior leadership team remains very strong as we continue to drive the business towards the strategic and financial objectives we have established."
United Stationers is a leading wholesale distributor of business products, with 2012 net sales of $5.1 billion. The company stocks a broad and deep line of approximately 130,000 items on a national basis, including technology products, traditional office products, janitorial and breakroom supplies, office furniture and industrial supplies. A network currently made up of 64 distribution centers allows it to deliver these products to more than 25,000 reseller customers. The network enables the company to ship most products overnight to more than 90% of the U.S. and offer next-day delivery to major cities in Mexico and Canada.