Tagged With "John Visentin"
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Re: Xerox (XRX) Q1 2019 Earnings Call Transcript
It's my understanding that most of these savings came from the backs of the employees and the consolidation of many Global and Xerox locations. Yes, Xerox is profitable, but I also know of many xclint sales people that have left the Global (XBS) ranks. You just can't replace these peeps overnight. Winners: John Visentin and Xerox shareholders Losers: Employees
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Re: Xerox (XRX) Q1 2019 Earnings Call Transcript
Norwalk-based Xerox jettisoned 400 more jobs in the first quarter of the year while leaving unfilled roughly another 1,100 that opened up as a result of employee attrition. The reductions took Xerox’s workforce to 30,900 people at the end of March. Under CEO John Visentin, revenue dropped 9 percent from a year earlier to $2.2 billion, but profits surged to $133 million from $23 million in the first quarter of 2018. Shares were down 5 percent Thursday to $32.17, but remain up 60 percent on...
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Fujifilm concedes difficulties in pursuing Xerox acquisition
TOKYO -- Fujifilm Holdings' Chairman Shigetaka Komori has admitted that the acquisition of Xerox -- a deal announced in January then canceled by Xerox in May -- has become "difficult." In an interview with Nikkei, Komori chose his words carefully but appeared to be on the verge of bowing to the inevitable. He said he met Xerox CEO John Visentin in November and that the two "shared" the view that the companies can maintain their existing alliance, which also appeared to be on the rocks...
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Xerox Ousts Channel Chief Amid Big Reorganization
Xerox is in the midst of a massive internal reorganization to start the new year, and has forced out Pete Peterson, president of Xerox Channels, and moved other high-ranking execs, according to two internal memos obtained by CRN. In his memo, Xerox CEO John Visentin wished Peterson well as he left to “pursue other interests.” Xerox did not respond to requests for comment this morning. Peterson, a former Tech Data executive, had been with Xerox since March 2017. Peterson confirmed his...
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Xerox Outlines Three-Year Strategy at Investor Day; Guides to over $3 Billion of Cumulative Cash Flow and Annual EPS Expansion
Press release from the issuing company New Yok, N.Y. – Today Xerox is holding an Investor Day to provide the investment community and other stakeholders details on its strategic initiatives and financial plans. “With a history of designing breakthrough technologies, Xerox is ‘made to think.’ We are taking a disciplined approach to creating the next generation of innovative technologies and intelligent work solutions to meet our clients’ evolving needs,” said John Visentin, vice chairman and...
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Xerox acquires Vader Systems, steps into $8 billion 3D printing industry
Xerox , the American manufacturer of printers and photocopiers, has acquired Vader Systems , a New York-based manufacturer of the liquid metal jet 3D printers . As previously reported by 3D printing industry, most recently in October 2018, Xerox has long had eyes on additive manufacturing opportunities . After years of anticipation on its expansion into the 3D printing industry , Xerox made the brief announcement at its Investor’s Day 2019 conference in New York. This acquisition is part of...
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Xerox To Close About Half Of XBS Offices
Xerox is in the process of closing many of its 186 Xerox Business Solutions field offices, forcing sales teams to work remote, and laying off support staff, as part of a massive consolidation, sources told CRN. Two sources with knowledge of the restructuring said the company plans to close roughly half of the XBS physical locations across the country, keeping the 40 geographical “core” businesses intact but shuttering many of the smaller field offices. XBS - which the company describes as...
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Xerox Names Louie Pastor Executive Vice President and General Counsel
NORWALK, Conn.--( BUSINESS WIRE )-- Xerox (NYSE: XRX) announced today the appointment of Louie Pastor as executive vice president and general counsel, reporting to Vice Chairman and CEO John Visentin and serving as a member of the company’s Executive Committee. Pastor will oversee all of Xerox’s legal affairs, including legal aspects of the company’s various strategic initiatives, and lead the company’s corporate security and government-related and public policy activities on domestic and...
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Fujifilm threatens to compete against Xerox if partnership not renewed
(Reuters) - Fujifilm Holdings Corp ( 4901.T ) on Wednesday threatened to compete against Xerox Corp ( XRX.N ) in Asia-Pacific and challenge it in America and Europe if it failed to renew its technology agreement in 2021. Xerox had said on Monday it would start sourcing products from new vendors to lower its dependency on Fujifilm and may not renew the agreement with the 56-year-old joint venture Fuji Xerox. In a letter to Xerox’s newly appointed Chief Executive Officer, John Visentin,...
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Xerox says to lower dependency on Fujifilm, seek new vendors
( Reuters) - Xerox Corp said on Monday it would start sourcing products from new vendors to lower its dependency on Fujifilm Holdings Corp and may not renew its technology agreement with the 56-year-old joint venture Fuji Xerox. Fujifilm sued Xerox last week for well over $1 billion, faulting the printer and copier company for succumbing to pressure from activist investors Carl Icahn and Darwin Deason in calling off a proposed merger agreed in January. In a letter to Fujifilm Chief Executive...
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Xerox misses profit expectations but beats on revenue, sets $1 billion buyback plan
Xerox Corp. XRX, -0.39% reported a second-quarter profit that missed expectations, and said it was setting a new direction with return to its roots as a technology company. Net income declined to $112 million, or 42 cents a share, from $166 million, or 63 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of 80 cents, below the FactSet consensus of 83 cents. Revenue fell to $2.51 billion from $2.57 billion, topping the FactSet consensus...
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5 Ways Xerox CEO John Visentin Plans To Boost Sales
It's A New Day At Xerox New Xerox CEO John Visentin took the first 15 minutes of the company's second-quarter earnings call to catalog some of the firm's strengths, weaknesses, and how he plans to increase revenue and modernize processes at the aging technology powerhouse. Visentin was named CEO on May 13 following a high-profile legal battle between activist investors Carl Icahn and Darwin Deason and entrenched board members over the companies proposed sale to Fujifilm. Following a legal...
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Fujifilm denies any compromise for acquisition of Xerox
TOKYO -- Fujifilm Holdings is continuing its attempts to acquire Xerox, but the Japanese company has denied it will make any compromise, even if it fails in the bid. The acquisition of the major U.S. office equipment maker is "not indispensable" for Fujifilm's growth, said Shigetaka Komori, chairman and CEO of the Japanese photography and imaging company, during an exclusive interview with Nikkei on Friday. "We would not go as far as to raise our terms of acquisition, set in January, to...
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MFP Industry Notes 08-19-2018
HP is the most secure???? - Numerous industry and IT news organizations reported on a vulnerability in the fax boards of many HP devices - Check Point Research of Israel reported that in many HP inkjet MFPs, a hacker can dial up the fax number, send a specially created image file containing malware by fax to the MFP, allowing attacker to penetrate one access point in order to enter the customer’s entire network. HP dealer executive leaves firm - Thomas Jensen, a 15 year HP veteran, announced...
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Xerox Outlines Three-Year Strategy at Investor Day; Wants to Simplify Business, Leverage Intellectual Property
NEW YORK - February 5, 2019 - Today Xerox held an Investor Day to provide the investment community and other stakeholders details on its strategic initiatives and financial plans. “With a history of designing breakthrough technologies, Xerox is ‘ made to think .’ We are taking a disciplined approach to creating the next generation of innovative technologies and intelligent work solutions to meet our clients’ evolving needs,” said John Visentin, vice chairman and CEO, Xerox. “By simplifying...
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Xerox cuts 900 jobs in Q3, tightens severance
Xerox cut 900 people from its global workforce in the third quarter as part of an ongoing restructuring, while reporting it has reduced the severance it pays employees who are losing their jobs, particularly in the United States. In the first full quarter that new CEO John Visentin has led Xerox, after a proxy battle that shifted leadership of the company to activist investors Carl Icahn and Darwin Deason, the Norwalk-based printing equipment maker reported net income of $89 million in the...
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Xerox Reports Progress on Key Priorities to Drive Business Improvement; Delivers Strong Cash Flow and Operating Margin Expansion
October 23, 2018 06:30 AM Eastern Daylight Time NORWALK, Conn.--( BUSINESS WIRE )-- Xerox (NYSE: XRX) today announced its third-quarter 2018 financial results. “We are progressing on our priorities, which include optimizing our operations for greater simplicity, re-energizing our innovation engine and focusing on cash flow to drive increasing shareholder returns,” said Xerox Vice Chairman and CEO John Visentin . “Work remains on the priority to drive revenue. Actions are underway to...
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North America Operations Third-Quarter Performance
October 23, 2018 North America Operations Colleagues, Earlier today, CEO John Visentin reported our third-quarter earnings results and shared the progress we are making against our strategic priorities for rebuilding Xerox into a tech powerhouse. I would like to share highlights of our North America Operations (NAO) third-quarter performance and areas of focus in the fourth-quarter to ensure we meet our financial commitments to the company. Our third -quarter performance In NAO our...
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Xerox 2018 Global Corporate Social Responsibility Report ShowcasesCommitment to Sustainability, Social Investment, Governance
NORWALK, Conn.--( BUSINESS WIRE )-- Xerox (NYSE:XRX) published its 2018 Global Corporate Social Responsibility Report detailing the impact of the company’s sustainability efforts across operations in 160 countries. Highlights from this year’s report include: 100 percent of newly launched eligible Xerox products satisfied the Electronic Product Environmental Assessment Tool (EPEAT ® ) and EPA ENERGY STAR ® eco-labels. 100 percent of products and parts returned by customers at end-of-life,...
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Xerox's quarterly profit beats estimates, says firm on HP buyout
Xerox Holdings Corp <XRX.N> on Tuesday posted a better-than-expected quarterly profit as it kept a tight lid on costs and said it plans to follow through with its $33 billion bid to buy rival HP Inc <HPQ.N>. Shares of the company, known for its photocopiers and printers, were up as much as 7%. Xerox, which has been facing a slowdown in demand as businesses cut down on printing their paperwork, has laid out a three-year cost-cutting plan under Chief Executive Officer John...
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Xerox Names Nicole Torraco Senior VP, Chief Strategy, and M&A Officer
Xerox Holdings Corporation announced the appointment of Nicole Torraco as senior vice president and chief strategy and M&A officer. In this newly created role, she reports to John Visentin, vice chairman and CEO of Xerox, and serves as a corporate officer. “Nicole brings a rare combination of financial acumen and entrepreneurship, with an impressive record of identifying strategic opportunities that deliver value,” said Visentin. “Xerox has built a strong M&A pipeline and has a...
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Xerox Holdings Corporation Plans Webcast to Discuss First-Quarter 2020 Results
NORWALK, Conn.--( BUSINESS WIRE )-- Xerox Holdings Corporation (NYSE: XRX) will host a live audio webcast with online presentation slides at 8 a.m. ET on Tuesday, April 28, to discuss the company’s first-quarter results and guidance. A news release containing this information will be issued earlier that day at 6:30 a.m. ET. WHEN: 8 a.m. ET, Tuesday, April 28, 2020 WHAT: Review of Xerox’s first-quarter results WHO: John Visentin , vice chairman and chief executive officer, Xerox Bill Osbourn...
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Xerox Names Joanne Collins Smee as Executive Vice President, Chief Commercial, SMB and Channels Officer
N ORWALK, Conn. — Xerox Holdings Corporation (NYSE: XRX) announced today the appointment of Joanne Collins Smee as executive vice president and chief commercial, SMB and channels officer. In this newly created role, she reports to John Visentin, vice chairman and CEO of Xerox. “Joanne is a proven business leader and technologist. Under her leadership, Xerox has made progress growing our software business and introducing a new line of digital services,” said Visentin. “To further support...
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It Won't Work! Is the motto of the unimaginative, and the Cry of the Insecure
The XEROX/HP saga playing out is proving that many can't see past what's in front of them and have limited imagination to assist them in discovering how things could be, based on how things should be. It has been a few months since Xerox took the bold action and beat HP to the table in a merger discussion. BUT XEROX IS TOO SMALL TO BUY- THE GREAT BIG HP!! Say those looking with no imagination. Yes, HP should have approached Xerox. HP having three times the market cap acquiring the smaller...
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Icahn Suggested HP Buy Xerox With Offer About to Go Public
(Bloomberg) -- Xerox Holdings Corp.’s largest shareholder made a suggestion as the printer maker was preparing to go public with its takeover offer for HP Inc. in November: buy us instead. Activist investor Carl Icahn raised the idea of HP acquiring Xerox for $45 a share in a phone call with HP Chief Executive Officer Enrique Lores in November, according to people familiar with the matter. HP executives viewed the proposal as over-valuing Xerox and decided not to pursue it, said the people,...
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HP/Xerox merger update
- Xerox filed a proxy statement with the SEC to support its slate of nominees for HP’s board of directors, o Expanded its board slate from 11 to 12 members, as it added former Alliant Energy CEO, Erroll Davis Jr. - Xerox’s CEO, John Visentin, stated that it will pause its public pursuit of HP amid the outbreak of coronavirus o Xerox’s shares have fallen 33% over past month - HP’s CEO, Enrique Lores, was recently interviewed by CNBC o “When we are talking about real overlap with Xerox, we are...
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Xerox Withdraws 2020 Guidance After Posting Loss Due to Virus
(Bloomberg) -- Xerox Holdings Corp., which last month dropped a hostile takeover bid for larger rival HP Inc., withdrew its annual revenue forecast, signaling uncertainty over how high a toll the economic slowdown from the Covid-19 pandemic will take on the copy-machine maker. Revenue reached $1.9 billion over the first quarter, a 14% drop from a year earlier, the Norwalk, Connecticut-based company said Tuesday in a statement. Pretax losses came in at $5 million. Xerox said in January it...
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Xerox Releases First-Quarter Results
Financial Results $173 million of operating cash flow from continuing operations, down $49 million year-over-year, and $150 million of free cash flow, down $57 million year-over-year Adjusted operating margin of 4.7 percent, down 630 basis points year-over-year $1.86 billion of revenue, a decrease of 14.7 percent year-over-year or 13.9 percent in constant currency GAAP loss from continuing operations of $(0.03) per share, down $0.37 year-over-year, and adjusted earnings per share (EPS) of...
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Itex Show 2016
If you have twitter make sure you follow @p4photel and John Anderson, he's on site and having a blast! Next week he'll be at BTA Spring Event in New Orleans and we'll have him doing some periscope feeds~
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A Roundup Of Recent Breaches, Subsequent Damages
Data breaches have moved into the forefront of the public eye in the past year, driven by a consistent stream of new events that highlight just how behind the average organization is in preparation and defense strategies. Information exposure has...
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Interview with John & West About Print Audits Recent Acquisition of NeoStream
I had the chance to speak with John MacIness, President of Print Audit and West McDonald, VP of Business Development for Print Audit about the recent acquisition of NeoStream. My first thought when I heard the news was this recent Xerox publication: A recent Xerox International research effort reveals that nearly half (46%) of SMB’s will turn to office equipment resellers for help with paper free solutions. In addition, 25% will look to their IT provider and 37 percent to the product...
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John Eckstrom Named BTA’s 2016 Volunteer of the Year
NEWS RELEASE For Immediate Release For More Information Contact: June 15, 2016 Brent Hoskins Executive Director (816) 303-4040 John Eckstrom Named BTA’s 2016 Volunteer of the Year Southeast representative on BTA Board of Directors awarded Kansas City, Mo. ¾ John Eckstrom, president of Carolina Business Equipment Inc., Columbia, South Carolina, was named BTA’s 2016 Volunteer of the Year on June 10 during the BTA at 90: A Celebration event at Kansas City Union Station in Kansas City, Missouri.
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The ‘strictly confidential’ Xerox offer HP Inc rejected
On Sunday, HP’s board of directors nixed Xerox’s recent offer that lit up the printer copier market with buzz during the last two weeks as the legacy behemoths mulled coming together. HP said it was not tossing out the idea of the two giants merging at some point, but it was saying no to this Xerox offer. “We recognize the potential benefits of consolidation, and we are open to exploring whether there is value to be created for HP shareholders through a potential combination with Xerox,”...
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Xerox Releases Third-Quarter Results, Raises 2019 Guidance
Xerox Releases Third-Quarter Results, Raises 2019 Guidance Cash Flow, EPS and Profit Margins Increase and Revenue Trend Improves from Prior Quarters Third-Quarter 2019 Financial Summary: $356 million of operating cash flow, up $82 million year-over-year, and $339 million of free cash flow, up $88 million year-over-year GAAP earnings per share (EPS) of $0.96, up $0.62 year-over-year, and adjusted EPS of $1.08, up $0.23 year-over-year (YOY) Adjusted operating margin of 12.1 percent, up 120...
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HP Rejects Xerox Offer as Too Low While Staying Open to Deal
HP Inc. ’s board unanimously rejected Xerox Holdings Corp. ’s unsolicited takeover proposal, saying the $22-a-share offer is too low and citing concerns about the smaller rival’s prospects in the printing industry. HP is “open to exploring” a merger but there are “fundamental questions that need to be addressed,” Chief Executive Officer Enrique Lores and Chairman Chip Bergh wrote in a letter to Xerox CEO John Visentin. They cited Xerox’s revenue decline since June 2018, “which raises...
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Xerox gives HP an ultimatum to reconsider acquisition, threatening to take its case to shareholders
Points Xerox CEO John Visentin wrote a letter to HP’s directors asking that they reconsider the company’s takeover bid before the board brings its case to HP shareholders directly. HP’s board unanimously rejected Xerox’s bid to acquire the company over the weekend. The HP board argued the deal undervalued the company and was not in the best interest of shareholders. Xerox’s board of directors threatened to go to HP’s shareholders if the company does not reconsider its acquisition bid, Xerox...
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Xerox lines up $24B financing package in HP bid
Xerox confirmed Monday it has $24 billion in financing commitments from Citi, Bank of America and another lender, as the Norwalk-based company continues to pursue a merger with HP after an initial rejection in November. In a letter to HP executives, Xerox stated it has “engaged in constructive dialogue” with HP shareholders, after vowing to pursue a hostile takeover absent any meaningful commitment to negotiations by HP’s board of directors. “We have always maintained that our proposal is...
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HP Again Dismisses Xerox $33 Billion Deal
HP Inc. HPQ again has dismissed a takeover bid by Xerox ( XRX ) - Get Report , telling its would-be suitor its $33.5 billion offer “significantly undervalues HP — and is not a basis for discussion.” A letter sent Wednesday to Xerox CEO John Visentin from HP CEO Enrique Lores and Chairman Chip Bergh states, “We reiterate that the HP Board of Directors' focus is on driving sustainable long-term value for HP shareholders. Your letter dated January 6, 2020 regarding financing does not address...
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Xerox, HP, Fuji Film, Fuji Xerox "It Just Keeps Getting Curiouser & Curiouser"
Just want I needed today was some blockbuster news about Xerox, Fuji Film, Fugi Xerox and HP. Don't these people know I have a quota to reach by the end of the year! If you've been hiding all day and not staying in touch with industry events, today was one of those days that has everyone talking. Early this AM a press release comes out that states Xerox and Fuji Film has reached a settlement in their law suit. That's the one where Fuji Film sued Xerox because Xerox backed out of the sale.
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Xerox woos HP shareholders with $1.5-billion sales growth target
(Bloomberg) -- Xerox Holdings Corp. believes its proposed HP Inc. takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to HP’s shareholders made public Monday. The printer maker outlined its case for a tie-up between the companies, arguing the combined firm will be worth about $31 a share to HP investors on a pro-forma basis. The merged entity will generate more than $4 billion in free cash flow in the first year before taking any synergies into...
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Xerox launches shareholder fight for control of HP aftere $33 billion offer is snubbed
AFP-JIJI NEW YORK – Xerox said Tuesday it would take its hostile takeover offer for HP to shareholders after the computer and printer maker rejected the $33 billion offer. The copy machine pioneer said it would make its case to shareholders because the HP board “continues to obfuscate and make misleading statements” about the proposed tie-up. “The potential benefits of a combination between HP and Xerox are self-evident,” Xerox chief executive John Visentin said in a letter to HP’s board.
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This Week in the Copier Industry 10 Years Ago, The First Week of April 2008
Who would have thought that on Palm Sunday here is the east that there's still some snow on the ground! I think we'll be lucky if we have tulips and hyacinths flowering by Easter. There's an excellent string of threads below for "How many prospects are in your territory". Enjoy the threads from Ten Years Ago this Week! Weekend Copier Notes from 04/06/08 Neal · 4/6/0812:46 PM is authorized for Canon, Kyocera, Panasonic, Muratec and KonicaMinolta, covering the greater Austin, TX marketplace. -...
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Xerox backs out of $6.1bn sale in blow to Fujifilm
NEW YORK/TOKYO -- U.S. copier and printer maker Xerox said Sunday that it is terminating a Jan. 31 deal to sell a majority stake to its long-time business partner Fujifilm Holdings, causing a major upset to the Japanese company's plans to strengthen its overseas operations. Xerox said it has reached an agreement with Carl Icahn and Darwin Deason, two activist investors opposed to the Fujifilm deal. Xerox is now overhauling its board by removing six of its 10 board members and appointing five...
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Xerox names John Visentin as CEO after scrapping Fujifilm deal
(Reuters) - Xerox Corp (NYSE: XRX ) has appointed John Visentin as chief executive officer and set July 31 for its annual shareholders meeting, the U.S. photocopier maker said on Wednesday. Visentin was also elected vice chairman of the board with Keith Cozza elected as chairman, Xerox said in a statement. Visentin replaces CEO Jeff Jacobson, the main architect of a proposed $6.1 billion deal with Fujifilm Holdings Corp <4901.T> which was scrapped this week in a settlement with...
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Xerox faces hurdles in finding another buyer
Fujifilm Holdings isn't done with Xerox Corp. The Tokyo-based company is planning to sue the photocopier manufacturer for cancelling their planned $6.1 billion merger . Jeff Jacobson , who was under heavy scrutiny for orchestrating the deal, resigned from his role as Xerox chief executive officer and as a member of the board of directors. Keith Cozza and John Visentin , both Icahn Enterprises (NASDAQ: IEP) executives, are now in charge of the Norwalk, Connecticut-based company. I spoke with...
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A message from John Visentin (Xerox)
May 17, 2018 Dear Colleagues, I am honored to have the opportunity to lead such an iconic company and join you in shaping the future of Xerox as your new CEO. The twists and turns of the last few months have understandably left you with a number of questions. Before I address some of your concerns I want every one of you to feel confident that I am committed to taking Xerox to the next level. see attached document
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Fuji Xerox appoints Icahn-backed director to the board
TOKYO -- Fuji Xerox, the joint venture between Fujifilm Holdings and the office equipment supplier Xerox, said on Thursday it has named to its board of directors an executive supported by activist investor Carl Icahn. The executive, John Visentin, took over as Xerox CEO in May as part of the settlement Icahn and fellow activist investor Darwin Deason reached with the American company. The investors are pressuring Xerox to abandon a $6.1 billion takeover by Fujifilm. read the rest here