Xerox Holdings Corporation (NASDAQ: XRX) has announced a significant change in its leadership team, with John Bruno, the President and Chief Operating Officer, deciding to pursue a CEO opportunity outside of the company. Bruno, who has been in the role since 2022, will continue in his operating role through August 31, and then transition to a member of the Xerox board of directors.
Louie Pastor has been named as Bruno's successor and will take over as the President and Chief Operating Officer effective September 1. Pastor currently serves as the Chief Administrative Officer and Global Head of Operations, where he has led the restructuring of global operations and driven enterprise-wide improvements in IT, cybersecurity, analytics, and operational efficiency.
In addition to this transition, Jacques-Edouard Gueden has been appointed as the Chief Revenue Officer, effective September 1, to lead the company's direct and indirect print go-to-market units. Gueden, a 30-year Xerox veteran, currently serves as the Chief Channel and Partner Officer.
These leadership changes come at a significant time for Xerox as the company is in the process of integrating with Lexmark. Steve Bandrowczak, the Chief Executive Officer at Xerox, expressed confidence in the newly appointed leaders and emphasized their contributions in shaping the future of the company.
As Xerox moves forward with these changes, it will be interesting to see how the new leadership team steers the company through its next phase of growth and transformation. The market has reacted to these announcements by moving the company's shares -2.49% to a price of $3.92. For more information, read the company's full 8-K submission here.
