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Story summary
- Steve Bandrowczak, Xerox's chief executive officer, stepped down on March 30, 2026.
- Louie Pastor, formerly president and chief operating officer of Xerox, has been appointed the new CEO.
- Xerox's stock fell over 90% during Bandrowczak's tenure.
- Xerox faces a revenue drop and a $4 billion debt burden.
- The Lexmark merger has led to layoffs as the company seeks stability under new leadership.
