Xerox Appoints New CEO, Pastor Takes Helm

0:00Xerox just dropped a big shake-up, appointing Louis Pasteur as their new chief executive officer right away, taking over from Steve, BanjoJack. Pasteur was already running things as president and chief operating officer, handling global services, revenue ops, and tech. The board made the call on Monday, but they didn't spill while the switch happened so fast. BanjoJack stepped in as CEO back in August 2022 after John Visinton, and guided the company through key buys like Lexmark and Itavi. That move set the stage for some heavy restructuring, but now passes at the helm amid all these shifts. Xerox has been in reinvention mode since their 2024 operating plan kicked off, slashing about 15% of the workforce, and tightening ops post Lexmark deal. They also tapped Chuck Butler as chief financial officer last November, and handled a debt rework in 2025. As forwards of February, when they teamed up with Texas private equity crew, TPG on a joint venture for managing and licensing IP assets, that scored $450 million in financing to

1:06boost liquidity, cut debt, and fuel other priorities. With Pasteur leading, Xerox is standing firm on its full year 2026 financial outlook, signaling they're pushing forward through the changes. Today informed with Hartford News today, AI-powered updates.