Xerox announced today its second-quarter financial results and reiterated its full-year adjusted earnings guidance. The company reported significant progress on its plan to separate into two independent, Fortune 500-scale, publicly traded companies by year-end and on its strategic transformation program.... See Full Release
Xerox to Create Two Focused Industry-Leaders and Unlock Value For Shareholders
On January 29, 2016, Xerox announced its plan to separate into two strong, independent, public companies. The separation, which Xerox expects to complete by the end of 2016, will create two industry-leading companies in order to maximize returns to shareholders and align the businesses to current market dynamics. Upon separation, the companies will benefit from greater strategic and operational focus, simpler organizational structures and more efficient allocation of capital. They will be better positioned to meet their clients’ needs and capitalize on the unique growth opportunities in their respective markets. The separation is intended to be tax-free to Xerox shareholders for federal income tax purposes.
- The Document Technology company, which will be called Xerox Corporation, will be a global leader in document management and document outsourcing with superior technology, solutions and innovation capabilities and had approximately $11 billion in 2015 revenue.
- The Business Process Outsourcing (BPO) company, which will be named Conduent Incorporated after the completion of the separation, will be an industry leader that helps clients improve their flow of work by leveraging its expertise in managing transaction intensive processes. In 2015, it had approximately $7 billion in revenue.
First-Quarter 2016 Earnings and Update on
Separation and Strategic Transformation
Corporate Releases & News
Xerox announced today the initial filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with the separation of Xerox into two independent, publicly traded companies. The filing includes important information on the planned distribution of shares of Conduent Incorporated, Xerox’s current business process outsourcing business.... See Full Release
Xerox and Carl C. Icahn announced today that they have entered into an agreement under which Jonathan Christodoro has been appointed to the Xerox board of directors effective immediately. Mr. Christodoro will also join the board’s corporate governance committee and finance committee. With the addition, the Xerox board is now comprised of nine directors.... See Full Release
Xerox (NYSE: XRX) announced today that its board of directors appointed Jeff Jacobson to be chief executive officer of Xerox Corporation following the completion of the company’s planned separation into two publicly traded companies. Jacobson currently serves as president of Xerox Technology and will continue in his current role until the separation is complete.... See Full Release
Xerox (NYSE: XRX) today announced the names of the new companies that will be created following the completion of its separation into two publicly traded companies. The Business Process Outsourcing company will be named “Conduent, Inc.” and the Document Technology company will continue to be called Xerox Corporation.... See Full Release