May 2, 2018
Xerox boss and executives ousted in Fujifilm merger row
The boss of Xerox and six board members will step down after the firm reached a deal with major shareholders who opposed a takeover by Japan's Fujifilm. Xerox shares fell 3% on news of the shake-up which follows a court decision last week to temporarily halt the deal. Keith Cozza, chief executive of Icahn Enterprises, will become chairman of Xerox. Fujifilm says it will appeal and plans to file an objection against the Xerox settlement with its key shareholders. Under the plan, the combined company would be called "New Fuji Xerox" and would be 50.1% owned by Fujifilm.
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