Dive Brief:
- Xerox Holdings said Wednesday that Chuck Butler, its chief business services officer, will be taking over the company’s finance department after just five months in his current role.
- Butler, 51, will succeed Mirlanda Gecaj effective Dec. 3, Xerox said. Gecaj, who became CFO in February, is leaving to pursue new opportunities as part of a “mutual decision” with the company, according to a press release.
- “Mirlanda has played a meaningful role in guiding the company through an important period of transformation,” Xerox CEO Steve Bandrowczak said in the release. “On behalf of the Board and leadership team, I thank her for her leadership and contributions and wish her the very best in the future.”
Dive Insight:
The announcement comes amid a major reorganization at the Norwalk, Connecticut-based manufacturer of printers and other information technology products. It also follows a mixed earnings report from the company last month.
Xerox posted $1.96 billion gain in revenue for its third quarter ended Sept. 30, a 28.3% increase compared with a year earlier. But the company said its revenue declined 7.8% on a “pro forma” basis, excluding the impact of recent acquisitions.
“The third quarter reflected a continuation of the uncertain macro environment we saw earlier in the year,” Gecaj said during an earnings call at the time. “Despite these near-term challenges, we continue to execute with discipline and are making meaningful progress on cost savings.”
Xerox said last month that it was laying off an undisclosed portion of its workforce following the completion of its $1.5 billion acquisition of printing and imaging products supplier Lexmark in July, according to news reports. The company didn’t immediately respond to a request for comment.
Prior to joining Xerox, Butler served as CFO at Lexmark, where he helped guide the company through its acquisition by Xerox, according to the Wednesday release. He will retain leadership of Xerox’s global business services organization, the company said.
“Chuck’s experience leading large-scale organizational change and his focus on empowering teams will be invaluable in advancing our next phase of growth and performance,” Bandrowczak said in the release.
