Lexmark CEO Reeder Resigns Citing ‘Personal Reasons’
In a surprise move, Lexmark International CEO and President David Reeder – who just last November succeeded long-time CEO and Chairman Paul Rooke – has resigned “for personal reasons,” effective immediately.
Lexmark says a search for a successor is currently underway. In the meantime, Lexmark will be led by a management team consisting of Brock Saladin, senior vice president and chief revenue officer, and Allen Waugerman, senior vice president and chief technology officer.
Reeder began his tenure at Lexmark as chief financial officer in January 2015. He was named president and chief executive officer in November 2016.
Lexmark says the move will not affect the impending sale of Lexmark Enterprise Software.
Last year, China’s Apex Technology (now called Ninestar). along with PAG Capital, purchased Lexmark International for some $3.6 billion.
On May 30th, the U.S. Supreme Court dealt a blow to Lexmark, when it ruled against the company in the landmark patent-infringement case Impression Products v. Lexmark International, ruling that patents are exhausted once products are sold (see story here).
“All of the Lexmark family want to thank David Reeder for his impressive efforts as CEO of the company, and as CFO as well,” said Mickey Kantor, chairman of the Lexmark Board of Directors in a prepared statement. “We wish him and his family the best in the future.
- June 2017: Ninestar Said to be Selling Lexmark’s Kofax Division
- May 2017: Supreme Court Rules in Impression Products v. Lexmark: No Patent Rights After Domestic and Foreign Sales
- May 2017: Private-Equity Firm, Hyland Software to Acquire Lexmark’s Software Business
- February 2017: Ninestar Discusses Lexmark Acquisition; Aims to be ‘One Stop Provider’ for Printer Industry
- January 2017: Lexmark to Lay Off 10 Percent of Software Group Employees
- December 2016: Apex Technology Says Lexmark Acquisition Will Help it Create Global Printer Empire
- November 2016: It’s Official: Lexmark Acquired by Apex and Investors; Reeder Named CEO