The board of directors of Staples, Inc. has elected Robert E. Sulentic to serve as independent chairman of the board, effective Sunday. Sulentic, president and chief executive officer of CBRE Group, Inc., joined the Staples board in 2007 and most recently served as lead independent director. Ron Sargent, the company’s non-executive chairman, will retire from the board on Saturday. Staples participates in the promotional products industry as distributor Staples Promotional Products (PPAI 108945).

In response to a shareholder vote at the company’s 2016 annual meeting, the board has also unilaterally amended and restated the company’s bylaws to reduce the threshold for shareholders to call a special meeting from 25 percent to 15 percent of Staples outstanding common stock.

“At Staples, we are committed to corporate governance best practices that promote strong board effectiveness and long-term value creation,” says Vijay Vishwanath, chair of the nominating and corporate governance committee. “We have a solid track record of responding to shareholder feedback, and today’s announcement further illustrates our commitment to drive increased alignment with our shareholders.”