A couple of days ago, Xerox said its CEO was resigning. In a statement late Thursday night, Xerox (XRX) said that a deal with activist investors Carl Icahn and Darwin Deason for its CEO and most of its board of directors to leave had expired. Under the lapsed agreement, CEO Jeff Jacobson and six other current Xerox board members would have stepped down to allow representatives of Icahn and Deason to take control of the company. The multibillion-dollar deal would leave Fujifilm holding 50.1% of Fuji Xerox, with Xerox shareholders owning the rest. The two investors, who together hold around 15% of Xerox stock, accused the company's board of overseeing "the systematic destruction of Xerox."

Source: CNN May 04, 2018 07:41 UTC