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Xerox has replaced its chief executive officer, Steve Bandrowczak, after Xerox share prices fell to new lows in recent weeks
Xerox Holdings Group has announced that Steve Bandrowczak will step down as its chief executive officer, with immediate effect.
In Bandrowczak’s place, the Xerox board of directors has appointed Louie Pastor as its new chief executive officer, who previously worked as chief operating officer for the corporation.
Scott Letier, chairman of the Xerox board of directors, says: “On behalf of the board and the entire Xerox team, I want to thank Steve for his leadership during a pivotal period for the company, including the successful acquisitions and integrations of Lexmark and Itsavvy.
“Louie brings a strong combination of operational discipline, strategic insight, and deep familiarity with Xerox. Throughout his time with the company, he has played a central role in advancing our strategy, strengthening our operating model, and driving enterprise-wide transformation.”
The latest move from Xerox follows drops in the share price of Xerox Holdings in recent weeks, hitting a low of $1.30 (£0.98) per share on March 23rd. As of the time of writing, the share price of Xerox is currently listed at $1.27 (£0.96).
The stock has lost well over 80% of its value since the start of 2025, when the price was as high as $9.68 (£7.35) per share.
The continued decline in share price is being attributed to several critical financial and structural factors, with investor confidence seemingly dropping despite Xerox’s acquisition of Lexmark and a recent announcement of a new global structure which aims to accelerate growth and “expand market leadership”.
Speaking of his new role, Pastor says: “I am honoured to step into the role of chief executive officer and lead Xerox into its next chapter.
“Steve’s leadership has been instrumental in strengthening the company’s foundation and positioning Xerox for long‑term success. We have a strong team and a clear focus on execution. I look forward to driving results and delivering on our priorities.”
A statement from Xerox following the new appointment says that the company is “reaffirming its full-year 2026 guidance” and that it “remains on track to deliver on its financial and operational targets.”
