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News > Companies
Staples president resigns
October 20, 1997: 7:43 p.m. ET

Hanaka allegedly violated "fraternization" policies
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NEW YORK (CNNfn) - Office supply chain Staples Inc. Monday said Martin Hanaka, its president and chief executive officer, has resigned following an investigation that showed he violated a number of company policies, including its fraternization guidelines.
     A company spokesman told CNNfn that Staples had information that Hanaka may have violated company policy. After obtaining that information, she said, the company launched a detailed inquiry in which several violations surfaced.
     The spokesman said Staples' board of directors then determined that he no longer could serve effectively.
     According to Reuters, Hanaka was charged two weeks ago with assaulting a secretary during an argument.
     Hanaka was arrested Oct. 7 for allegedly grabbing the arm of Cheryl Gordon, a company secretary, during an argument, Framingham Police Dept. Lt. Wayne McCarthy said.
     A Staples spokeswoman told Reuters that Hanaka and Gordon both resigned.
     Officials said he will serve as a full-time consultant reporting directly to the company's chairman for the next six months while the search for his successor is under way.
     Staples currently operate 683 office superstores around the world. Back to top
     --Cyrus Afzali
    

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

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Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.