Xerox announced today the appointment of Steve Bandrowczak as president and chief operations officer, and a member of the Xerox’s...
Tagged: executive management
The appointment is said to be customary, since Fuji Xerox is a joint venture between Xerox and Fujiflm, but the appointment of Icahn-backed Visentin to the board can’t be welcomed by Fujifilm, which saw it’s hopes of obtaining Xerox and merging it with Fuji Xerox dashed by Icahn and fellow investor Darwin Deason.
Shinichi Yoshida will succeed Kuwamura as executive vice president/general manager of BISG, effective July 1st.
Xerox also announced that it will hold its 2018 Annual Meeting of Shareholders on July 31, 2018.
“Fujifilm disputes Xerox’s unilateral decision to terminate the transaction,” the company said in its statement.
As group CEO of the Gaming Division, Albregts will oversee Scientific Games’ product development, production, supply chain and sales of the company’s gaming products, systems and services.
According to Icahn, Visentin had the skills that would help Xerox shareholders understand why the proposed merger with Fuji Xerox was a bad idea, and that a new management team would be better for Xerox.
Mike Marusic, chief operating officer for Sharp Imaging and Information Company of America, commented: “Restructuring our product management group will make us a more effective and nimble team that will unify our smart-office approach.
Deason argues that Xerox CEO Jeff Jacobson “acted without authorization” to negotiate a deal with Fujifilm, a deal that is is said to have “preserved his job at the expense of shareholder value.
On Wednesday, Xerox also said that Xerox shareholders should disregard information from Icahn and Deason, stating the two are conducting a “highly disingenuous campaign” that distorts and omits key facts about Xerox and the proposed merger.
Last year, in February, Ricoh had announced that it was eliminating the position of a chairman and CEO for Ricoh Americas, which resulted in the departure of Ricoh Americas Chairman and CEO Martin Brodigan.
Benjamin currently serves as president and chief operating officer of NCR Corporation, a software- and hardware-solutions business-technology company.
In 2004, Johnson joined the U.S. Army Reserves as a psychological operations specialist. He was deployed as a member and team leader of the Tactical Psychological Operations Teams to Afghanistan from 2005 – 2006 and to Iraq from 2009 – 2010.
“Hope is not a strategy. We cannot just hope for multiple expansion. We cannot just hope for synergies. We cannot just hope that the massive Fuji Xerox accounting scandal will not result in substantial additional liabilities for Xerox. We cannot just hope that Fuji that will treat us fairly once they are in control of our company.”
Deason, along with billionaire activist investor Carl Icahn, have sought to derail Xerox’s proposed merger with Fuji Xerox, with Fujifilm of Japan having a controlling 50.1 percent of shares, with current Xerox CEO Jeff Jacobson serving as president of the new company. Xerox shareholders will vote on the proposed merger at an upcoming shareholder meeting in May 2018.
Toshiba’s board believes former banker can help its turnaround.