WXXI AM News

Activist investor wants to nominate full slate of directors for Xerox

Feb 26, 2018

There’s another move being made by one of the two activist investors who have been trying to challenge Xerox’s management on various fronts including the recently announced takeover of the company by Fuji.

On Monday, Darwin Deason told Xerox that he is seeking to nominate a full slate of directors at the upcoming annual meeting.

In his letter, Deason says that even though he missed a deadline for making such a move, the Xerox Board has made a series of significant decisions that are material to the stockholders.

Both Deason and Carl Icahn, who together own more than 15% of Xerox stock, have challenged the company’s position that the Fuji Xerox deal is the best path forward for the company.

Deason says Xerox shareholders should have a chance to vote on all members of the Board of Directors at the annual meeting this Spring.