Boston-based private equity firm Berkshire Partners named Staples president and COO Mike Miles to the role of advisory director.
Miles spent the past decade at Staples and his last day will be February 2, 2013. In his new capacity at Berkshire, Miles is tasked with sourcing new investment ideas and serving as an operating advisor to Berkshire’s portfolio of companies.
"Mike joins us with a distinguished track record and his experience will undoubtedly bring significant value to Berkshire and our portfolio companies," said Berkshire managing director Ross Jones. "A number of us have had the privilege of knowing Mike for over two decades and we are delighted to have him join the firm."
Miles joined Staples in 2003 as COO and was given additional responsibilities as president in 2006. Prior to Staples, he was with PepsiCo and YUM Brands for ten years, at once point serving as COO of Pizza Hut. He began his career at Bain and Company, the Boston-based management consulting firm which provided capital to help Staples founder Tom Stemberg launch the office superstore concept more than 25 years ago. Miles is a Yale graduate who also earned an MBA from Harvard.
"The Board and I thank Mike for his leadership and service over the past decade," said Ron Sargent, Staples’ chairman and CEO. "Mike brought new energy to our brand, drove growth in our services business, and restructured and integrated our international operations. We wish him all the best."
Berkshire was founded the same year Staples opened its first store and since then has invested in more than 100 middle market companies through eight different funds.