Xerox Adds Lexmark Executives To Leadership Ahead Of $1.5B Acquisition

(RTTNews) - Xerox Holdings Corporation (XRX) Monday has announced key leadership additions as part of its upcoming $1.5 billion acquisition of Lexmark International, Inc., expected to close in Q3 2025 pending regulatory approval.

Two senior Lexmark executives—Billy Spears as Chief Product Development & Delivery Officer and Chuck Butler as Chief Business Services Officer—will join Xerox's Executive Committee upon deal completion. Additionally, Kim Kleps has been appointed Xerox's Chief People Officer, effective immediately.

These appointments aim to bolster Xerox's executive strength as the company prepares to integrate Lexmark's imaging technologies and expand its capabilities across print, digital, and IT services.

CEO Steve Bandrowczak emphasized that the combined expertise of the incoming leaders will be vital to driving innovation and growth in the merged entity, which will serve over 200,000 clients in more than 170 countries.

Bandrowczak noted that the enhanced leadership team reflects a unified vision to deliver advanced technology solutions, drive efficiencies, and capitalize on new global market opportunities as Xerox returns to a growth trajectory.

XRX is currently trading at $5.59, or 5.97% lower on the Nasdaq Global Select Market.