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HD Supply Holdings to Separate Divisions

HD Supply Holdings Inc. announced it will separate its facilities maintenance and construction and industrial divisions into two separate independent publicly traded companies.

Both newly created businesses will continue to be headquartered in Atlanta, Modern Distribution Management reports. The facilities maintenance division will retain the HD Supply name and ticker symbol. Joe DeAngelo will serve as HD Supply chairman and CEO while John Stegeman, current president of construction and industrial, will serve as CEO of the new construction firm.