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Corporate Express NV, the world’s biggest office-supplies distributor, opted to stay independent rather than seek a takeover and replaced chief executive Frans Koffrie after its stock fell by more than half during his tenure.
Peter Ventress, head of its European unit, has taken over as CEO following a review, the Amsterdam, Netherlands- based company said Monday in a statement. Its shares gyrated, rising and falling as much as 4.3 percent. Koffrie, 55, had been CEO since 1998.
The company’s United States division, Corporate Express U.S., is based in Broomfield.
Corporate Express cut profit forecasts six times in 2001 and 2002.
