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Xerox Corp (NYSE: XRX) revealed Friday that Ursula Burns would serve as chairman of the board of the Document Technology company. The move comes following the completion of the separation of Xerox into two independent, publicly-traded companies.
According to Xerox, Burns would continue in her current role as chairman and CEO of Xerox until the separation. In January last, the company disclosed that it would split the company into two market-leading companies – a Document Technology company comprised of its Document Technology and Document Outsourcing businesses and a Business Process Outsourcing (BPO) company.
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The company indicated that the separation was on track to be completed by the end of the current year. The Document Technology company would be a global leader in document management and document outsourcing with $11 billion revenue generated in 2015.
Xerox's Independent Director, Ann Reese, commented, "Ursula's deep industry experience and relationships along with her proven leadership skills will be valuable assets for the Document Technology company and will help ensure a smooth transition to a new management team. The company will be well positioned to leverage its global industry leadership, strategic focus and ability to innovate post-separation and we are very pleased that Ursula will continue to play a critical role in making that happen."
Burns reacted to the appointing saying, "I am looking forward to my role as chairman of the Document Technology company and to continuing my deep personal and professional commitment to its success. I remain focused, however, on ensuring Xerox and the post-separation companies are positioned to build on our strong heritage and capture new opportunities we have identified to create value for employees, customers and shareholders."
The BPO company would be an industry leader helping businesses, as well as, governments manage large-scale, transaction intensive processes with their patients, commuters, travelers, citizens, and employees. The company is focused on attractive growth markets with about $7 billion generated in 2015. Its focus would be on transportation, healthcare, commercial and government services.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.