Following the completion of a comprehensive structural review, Xerox has announced that it is to separate into two independent businesses. The separation, expected to be completed this year, will see the formation of a Document Technology entity and a Business Process Outsourcing (BPO) company.
The leadership and names of the two companies will be determined as the separation process progresses. Xerox will continue to operate as a single company until the separation is complete.
‘Today Xerox is taking further affirmative steps to drive shareholder value by announcing it will separate into two strong, independent, publicly traded companies,’ said Ursula Burns, chairman and chief executive officer.
‘These two companies will be well positioned to lead in their respective rapidly evolving markets and capitalise on the opportunities that now exist to expand margins and increase market share.
‘I am confident that the extensive structural review we conducted over the last few months has produced the right path forward for our company. We will now position the companies for success and execute our plan to separate them in the shortest possible timeframe while continuing to focus on achieving our 2016 goals,’ she concluded.
