Xerox CEO resigns as company caves to activist investors

Activist investor Carl Icahn and his partner in litigation Darwin Deason have reached a settlement with Xerox in a proxy war and litigation arising out of the January Fujifilm-Xerox transaction. After Fujifilm agreed in January to take control of Xerox, Icahn (who with Deason owned 15 per cent of Xerox) complained he was left …

[Pascal Monett]

“[a] passive minority owner"

You have control of 15% of shares. You ARE a minority owner.

Once again I read about Carl Icahn and I picture a hyperactive 8-year-old jumping up and down, shrieking at the top of his lungs "I WANT TO PLAY MONOPOLY" while all the other kids are out playing ball.

Not an idiot. Far from. Just a fucking nuisance.

[K]

Re: “[a] passive minority owner"

Nailed it!

Thing is, he does this and then sits their scratching his balls, as he actually had no better plan.

[adam payne]

So with Xerox under new management will they now sort out their technical support team?

This is the team that asks questions that you have already answered on your original email.

Will they also dispatch toner and other consumables on time? an auto order system is supposed to order consumables and send them before the machines stops running.

[Anonymous Coward]

As an ex-Xeroid...

I worked for Xerox back in the late 90s.

There was an internal team in the US called (IIRC) Technical Operations & Systems Support Resources

Or, as they proudly called themselves, the TOSSRs...

[Anonymous Coward]

Some of the service desk functions have very recently moved to a new supplier.

I know....it's us.

[Anonymous Coward]

Ph3k3d

Working as a production analyst there, I now see the entire service doomed to be outsourced to the lowest bidder. They’ll tear it down to piece to drive short term value. Well and truly fuck3d are the xeroidians.

Time to learn a new skill asap.

[Alistair]

@ Pascal:

I read about Carl Icahn and I picture a spoiled rotten hyperactive 8-year-old jumping up and down, tearing its clothes off, shrieking at the top of his its lungs, whilst throwing anything and everything it can lay its grubby little paws on at the adults in the room.

FTFY.

Real investors all over the planet need to launch a class action lawsuit to have it's name changed to Cursed ItCanht.

(Nah bru, I don't have any *reason* to find it a vile creature, I just despise the idiocy it espouses)

[Anonymous Coward]

Have to admit takes a special kind of dbag to actually want to take the side of inept inefficient parochial corporate management mostly concerned with giving themselves bonuses as the ship sinks instead but Carl is that guy.

[Mark 85]

Carl isn't interested in manglement or the company. He's a vulture who will strip the assets, sell of what he can and bankrupt (for a nice deduction from his taxes) the rest. Read up on him a bit.

The concept of activist investor isn't what he is.

[The Oncoming Scorn]

Carry On Xerox

[after a servant rings a gong, in the style of the famous Rank Organisation logo]

The Khasi of Kalabar : I do wish you wouldn't keep doing that. Rank stupidity!

[rbf]

After Icahn's treatment, will Xerox end up asset stripped and a shell of its former self - or, mirabile dictu, a viable technology business?

When I was there it had top notch technologists and corporate management mentality better suited to a commodity operation.

Bottom line, Xerox has over some decades become a case study that constant cutting is counter innovative.