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Xerox names John Visentin as CEO after scrapping Fujifilm deal


(Reuters) - Corp has appointed John as and set July 31 for its annual shareholders meeting, the U.S. said on Wednesday.

was also elected vice of the board with elected as chairman, said in a statement.

replaces Jeff Jacobson, the main of a proposed $6.1 billion deal with Holdings Corp <4901.T> which was scrapped this week in a settlement with activist investors and that handed control of the U.S. company to new management.

Five other directors would step down as well under the settlement.

In January, and had agreed to the complex deal to merge Xerox into their joint venture and give control.

Icahn and Deason, who own a combined 15 percent of Xerox, had launched a proxy fight arguing that the deal undervalued the U.S. company.

Visentin, who had also been under consideration by the old board to replace Jacobson as recently as last year, had been hired by Icahn to assist in his campaign against Xerox.

(Reporting by in Bengaluru; Editing by Richard Chang)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 05:37 IST