Coast to coast to coast

Patricia McKay, the new CFO of Office Depot, has been quite busy the past couple of years — not only with changing jobs, but also moving her belongings.

McKay started at AutoNation (AN), a Florida-based automotives retailer, which she left in March 2003 to take over the CFO spot at upscale home furnishing retailer Restoration Hardware (RSTO). According to Restoration’s latest proxy, McKay collected $174,665 in relocation and housing expense reimbursements during 2004, almost half of her $366,346 salary.

Twenty-two months later, McKay’s leaving California-based Restoration Hardware and moving back…to Florida. She’s taking over as Office Depot’s (ODP) CFO at their Delray Beach headquarters, only 30 miles north of AutoNation’s Ft. Lauderdale home. According to the employment agreement released by Office Depot on Tuesday, McKay is getting a 43% bump in pay (to $525,000 per year), in addition to a $150,000 signing bonus, 170,000 stock options, and 19,000 fully vested restricted shares. Oh, and the agreement states that McKay will receive relocation benefits and be reimbursed for airfare for up to two round trips per month to her home in California during her first six months of employment.

Not bad for a cross-country adventure.