Among those watching the deal announced Wednesday where Fuji will gain majority control of Xerox as part of a new company called Fuji Xerox is a retired longtime Xerox executive.
Emerson Fullwood worked for Xerox for 36 years, in a variety of roles, including having been president of the company's Worldwide Customer Services Group. The Pittsford resident also is still a member of various corporate boards, including the Vanguard Group and SPX Corporation, and he has been an Executive in Residence at RIT.
On Wednesday morning, Fujifilm Holdings announced that it will take a majority stake in Xerox. The companies have had a joint venture for years. The new business will be called Fuji Xerox, with Fujifilm owning 50.1 percent and Xerox keeping its listing on the NYSE. Fuji Xerox will have dual headquarters in the U.S. and in Japan, and it expects to deliver $1.7 billion in annual cost savings by 2022, with $1.2 billion of that to be achieved by 2020.
Before the merger was announced, Fujifilm said it planned to cut 10,000 jobs at Fuji Xerox to stay competitive. So what will the new business mean for the 3,400 Xerox employees in Rochester? This hour, our guests discuss Xerox’s history in our area and their expectations for its future. Our guests:
Beth Adams chats with George Conboy of Brighton Securities about the impact the Fuji Xerox combo may have on the Rochester economy.
With the news on Wednesday at Xerox will combine with their current joint venture with Fujifilm holdings to create a new company called Fuji Xerox, WXXI's Beth Adams talked with George Conboy from Brighton Securities about the impact this may have in Rochester.