Xerox says CEO, board to stay after agreement with Icahn, Deason expires
Xerox says CEO, board to stay after agreement with Icahn, Deason expires. Xerox said its board and management team will stay after an agreement it had reached with dissenting shareholders to oust them expired, adding another twist to a lengthy dispute over Fujifilm taking control of the U.S. company.
Xerox had said on Tuesday its CEO and most of its board will step down to settle a lawsuit by activist shareholders Carl Icahn and Darwin Deason.
The New York Supreme Court held a hearing on Thursday on an objection by Fujifilm to the agreement.
The judge held off a decision and the schedule for the next hearing has not been decided.