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August 18, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Xerox seeks to reorganize under a holding company

Xerox Corp. has announced plans to reorganize under a new holding company.

In a filing with the U.S. Securities and Exchange Commission, the Norwalk-headquartered Xerox stated a holding company would offer it a higher degree of financial, operational and strategic flexibility.
Xerox did not state what the holding company would be named, but it added there would be no changes to its current executive team and board of directors, and it would still be traded on the New York Stock Exchange under the “XRX” ticker symbol.

Xerox’s plans are similar to an action taken by Google in 2015 when it reorganized under the Alphabet Inc. holding company. Xerox’s proposal will require regulatory and shareholder approval and could be implemented as early as this summer.