CEO Testimony Could Prove Risky for Staples

Attorneys for Staples are planning on having the company’s CEO testify to defend Staples acquisition of chief competitor Office Depot, but the plan could backfire as it did during last year’s antitrust trial in the General Electric/AB Electrolux case, when the judge forced an embarrassing retraction of testimony by Electrolux’ chief executive.

The retraction in that case may not only have helped persuade GE to abandon the Electrolux deal midtrial, but also possibly contributed to the departure of Keith McLoughlin, CEO of Electrolux, soon after the ill-fated court encounter, according to observers.

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Ed Roberts

Ed Roberts

Ed Roberts began reporting for CTFN in September of 2014. Ed specializes in litigation and regulatory matters. He attended and reported on every major antitrust trial of 2015 and 2016, has covered complex multi-jurisdictional cases such as Fannie Mae/Freddie Mac, and has interviewed senior officials at regulatory bodies such as the FTC. Previously, Ed was a Washington-based reporter covering Congress and Wall Street for a variety of publications for more than two decades. His work has appeared in American Banker, US Banker, National Mortgage News, Payment Source, and the Credit Union Journal, which he co-founded, as well as in numerous daily newspapers. He is a former SEC Bureau Chief for States News Service and is a graduate of Boston University’s School of Public Communication.

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