Xerox Appoints New Board Members, New CFO
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.
- November 2016: Xerox Board Approves Split into Two Companies
- October 2016: Xerox Settles with Shareholder Seeking to Block Xerox Separation
- October 2016: Revenues Down, but Net Income up for Xerox’s Third Quarter
- October 2016: Xerox Rolls Out New Conduent Brand Logo as it Prepares for Split into Two Companies
- October 2016: Xerox’s BPO Group to Trade as Conduent on NY Stock Exchange Following Split
- August 2016: Xerox Reports Slight Revenue Decline for Second-Quarter Revenue, But Much Higher Net Income
- June 2016: Jeff Jacobson to Become CEO of Xerox Document Technology Company
- June 2016: Ashok Vemuri to be CEO of Xerox Business Process Outsourcing Company
- May 2016: Xerox Board Names Ursula Burns Chairman of New Document Technology Company
- April 2016: Profits, Earnings Down for Xerox’s First Quarter
- February 2016: Difficult Fourth Quarter for Xerox, But Surge in Entry-Level Color A4 MFP Sales
- January 2016: Xerox to Split into Two Companies, One Devoted to Printers, Copiers, Other to Business-Process Outsourcing