Deals
Icahn, Deason Urge Xerox to Oust CEO, Explore Alternatives
- The two have ‘little faith’ in ‘old-guard’ investors
- CEO Jacobson in post just a year; at company since 2012
Signage is displayed on the exterior of Xerox Corp. headquarters in Norwalk, Connecticut, U.S., on Thursday, Jan. 5, 2017.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Carl Icahn is teaming up with fellow Xerox Corp. investor Darwin Deason to urge the company to explore strategic alternatives and shake up its joint venture with Fujifilm Holdings Corp.
The pair -- Xerox’s first and third largest shareholders respectively -- collectively own about 15 percent of Xerox, or more than 40 million shares, according to a letter Monday. The investors plan to form a group that will seek the election of four new directors.