LINCOLNSHIRE, Ill. (AP) — Office supplies company Acco Brands said Monday that Robert Keller will step down as CEO in March but remain as executive chairman.
Keller, 59, will be succeeded as CEO by Boris Elisman, who currently serves as president and chief operating officer.
Acco Brands Corp., which makes Swingline staplers, Day-Timer planners and other products, said that Elisman has helped drive the company's improved performance and helped position it for future growth as president and COO.
The 50-year-old Elisman was also instrumental in the $860 million acquisition of MeadWestvaco's consumer and office products business in May.
Elisman has worked at Acco since 2004. He served as executive vice president and president of Acco Brands Americas before becoming president and COO. He will also become a board member.
Independent director Robert Jenkins said in a statement that Keller was CEO of Acco during a difficult time for the company and helped restore its financial stability.
Acco also maintained its 2012 forecast for adjusted earnings between 82 cents and 85 cents per share. Analysts polled by FactSet predict earnings of 81 cents per share.
The Lincolnshire, Ill. company will report its fourth-quarter and full-year financial results on Feb. 13.
Acco Brands shares closed at $8.30 per share on Friday. They have risen from a 52-week low of $5.80 in late October and traded as high as $13.30 early last May.