As long as we’re on the topic of trouble at the top (see my last post here), keep your eye on Office Depot. The struggling retailer just gave up three seats on its board to a private-equity firm that came to its rescue with a $350 million investment. The new board members are unlikely to be shy about their opinions.

While Office Depot’s CFO told the Wall Street Journal the investment will carry the company through the current business cycle, he was speaking about its capital structure, not its board. If Office Depot continues to struggle (sales in its most recent quarter dropped 22%) you can bet there’s going to be animated discussions about how to turn things around. And the back-to-school season is expected to be brutally competitive.

Hopefully, Office Depot can avoid the fate of Target, Dial-a-Mattress and Children’s Place and maintain alignment at the top. But if not, the battle in the boardroom will make Office Depot the latest victim of the most destructive internal dynamic that tends to bedevil companies when growth stalls. And it will be one more (big) distraction hindering its recovery.