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Xerox officially names new CEO; sets date for annual meeting

May 17, 2018

Xerox has officially appointed John Visentin as CEO and set July 31st as the date for the annual meeting. There is no word yet on a location for that meeting.

The company released more information about its next moves on Wednesday night.  Earlier this week, Xerox announced that Visentin would become CEO and that Jeff Jacobson and five other board members would resign as part of a settlement with activist investors, Carl Icahn and Darwin Deason.

As part of that settlement, Xerox said it would be scrapping a $6.1 billion dollar deal with Fuji that would have seen that  company take control of Xerox.  

On Wednesday, Xerox also announced  Visentin was also elected vice chairman of the board and Keith Cozza was elected chairman.  

Financial filings show that Visentin will earn an annual base salary of $1.2 million dollars with a sign-on cash bonus of $1.5 million. There is also a potential annual bonus if he meets certain performance goals.

Visentin was hired by Icahn and Deason in March as a consultant in their campaign to try and block the takeover by Fuji.

Most recently, he headed up a Connecticut-based document services company called Novitex. Previously, Visentin was a senior executive at Hewlett Packard and IBM.