Xerox Appoints New Board Members, New CFO

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Xerox reports that it’s appointed William F. Osbourn, Jr. chief financial officer (CFO) following its separation into companies at the end of 2016. Osbourn will join Xerox on December 5th as the CFO of Xerox’s Technology business. Xerox also appointed two new board members (see below).

Osbourn joins Xerox following a 13-year career at Time Warner Cable (TWC) which culminated with him serving as co-CFO. Osbourn also served as the controller and chief accounting officer, overseeing the company’s accounting function for eight years. He is said to have played “a key role” in the spin-off of Time Warner Inc.’s cable business and the subsequent creation of Time Warner Cable as a separate publicly traded company. Before joining Time Warner, Osbourn spent 14 years at PricewaterhouseCoopers LLP iand was admitted to partnership in 2000.

Xerox also announced that Leslie Varon, who has served as Xerox CFO since October 2015, will retire following the completion of the separation and “after ensuring a smooth transition.” During a 36-year career with Xerox, Varon has served in a variety of senior finance roles including as the company’s corporate controller, vice president of finance for North America and head of investor relations.

New Board Members

Xerox also announced 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 be made up of 11 directors.

Echevarria is also on the board of directors of the Bank of New York Mellon, Unum Group, and Pfizer. Krongard currently serves as a director on the boards of Legg Mason and Air Lease Corporation.

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