Xerox Adds More Directors to its Board
December 05 2016 - 6:06PM
Business Wire
Xerox (NYSE:XRX) announced today the appointment of Joseph J.
Echevarria, the former chief executive officer of Deloitte LLP, and
Cheryl G. Krongard, a former senior partner with Apollo Management
LP, to the Xerox board of directors effective January 1, 2017. With
these additions, the Xerox Board will comprise eleven
directors.
“We’re pleased to have Joe and Cheryl, two highly successful
professionals with extensive governance experience, join our
board,” said Xerox Chairman and CEO Ursula Burns. “Xerox will
greatly benefit from Joe’s knowledge of international business and
professional services and Cheryl’s expertise in institutional asset
management, as we begin our exciting next phase after our
separation into two independent companies.”
Mr. Echevarria is also on the board of directors of the Bank of
New York Mellon Corp., Unum Group, and Pfizer Inc. Mrs. Krongard
currently serves as a director on the boards of Legg Mason, Inc.
and Air Lease Corporation.
About Xerox
Xerox is helping change the way the world works. By applying our
expertise in imaging, business process, analytics, automation and
user-centric insights, we engineer the flow of work to provide
greater productivity, efficiency and personalization. Our employees
create meaningful innovations and provide business process
services, printing equipment, software and solutions that make
a real difference for our clients and their customers in 180
countries. On January 29, 2016, Xerox announced its plans to
separate into two independent, publicly traded companies – Xerox
Corporation, which will be comprised of the company’s Document
Technology and Document Outsourcing businesses, and Conduent
Incorporated, a business process services company. Learn more at
www.xerox.com.
Forward-Looking Statements
This release may contain “forward-looking statements” as defined
in the Private Securities Litigation Reform Act of 1995. The words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,”
“should” and similar expressions, as they relate to us, are
intended to identify forward-looking statements. These statements
reflect management’s current beliefs, assumptions and expectations
and are subject to a number of factors that may cause actual
results to differ materially. Such factors include but are not
limited to: changes in economic conditions, political conditions,
trade protection measures, licensing requirements and tax matters
in the United States and in the foreign countries in which we do
business; changes in foreign currency exchange rates; our ability
to successfully develop new products, technologies and service
offerings and to protect our intellectual property rights; the risk
that multi-year contracts with governmental entities could be
terminated prior to the end of the contract term and that civil or
criminal penalties and administrative sanctions could be imposed on
us if we fail to comply with the terms of such contracts and
applicable law; the risk that our bids do not accurately estimate
the resources and costs required to implement and service very
complex, multi-year governmental and commercial contracts, often in
advance of the final determination of the full scope and design of
such contracts or as a result of the scope of such contracts being
changed during the life of such contracts; the risk that
subcontractors, software vendors and utility and network providers
will not perform in a timely, quality manner; service
interruptions; actions of competitors and our ability to promptly
and effectively react to changing technologies and customer
expectations; our ability to obtain adequate pricing for our
products and services and to maintain and improve cost efficiency
of operations, including savings from restructuring actions and the
relocation of our service delivery centers; the risk that
individually identifiable information of customers, clients and
employees could be inadvertently disclosed or disclosed as a result
of a breach of our security systems; the risk in the hiring and
retention of qualified personnel; the risk that unexpected costs
will be incurred; our ability to recover capital investments; the
risk that our Services business could be adversely affected if we
are unsuccessful in managing the start-up of new contracts; the
collectability of our receivables for unbilled services associated
with very large, multi-year contracts; reliance on third parties,
including subcontractors, for manufacturing of products and
provision of services; our ability to expand equipment placements;
interest rates, cost of borrowing and access to credit markets; the
risk that our products may not comply with applicable worldwide
regulatory requirements, particularly environmental regulations and
directives; the outcome of litigation and regulatory proceedings to
which we may be a party; the possibility that the proposed
separation of the Business Process Outsourcing (BPO) business from
the Document Technology and Document Outsourcing business will not
be consummated within the anticipated time period or at all,
including as the result of regulatory, market or other factors; the
potential for disruption to our business in connection with the
proposed separation; the potential that BPO and Document Technology
and Document Outsourcing do not realize all of the expected
benefits of the separation; and other factors that are set forth in
the “Risk Factors” section, the “Legal Proceedings” section, the
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” section and other sections of our Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2016, June
30, 2016 and September 30, 2016 and our 2015 Annual Report on Form
10-K filed with the Securities and Exchange Commission (SEC). Such
factors also include, but are not limited to, the factors that are
set forth in the “Risk Factors” section, the “Legal Proceedings”
section and other sections of the Conduent Incorporated Form 10
Registration Statement, as amended, filed with the SEC. Xerox
assumes no obligation to update any forward-looking statements as a
result of new information or future events or developments, except
as required by law.
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Xerox® and Xerox and Design® are trademarks of Xerox in the
United States and/or other countries. Conduent is a trademark of
Xerox Business Services, LLC in the United States and/or other
countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20161205006366/en/
Media:XeroxCarl Langsenkamp,
+1-585-423-5782carl.langsenkamp@xerox.com
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