Xerox CFO Luca Maestri to Leave Company  

  Xerox CFO Luca Maestri to Leave Company

Business Wire

NORWALK, Conn. -- January 11, 2013

Xerox (NYSE: XRX) today announcedthat Luca Maestri, executive vice president
and chief financial officer, is leaving the company, effective February 28, to
assume the role of corporate controller at Apple.

"Luca is a stellar finance executive whose contributions have brought great
value to the transformation of Xerox into a services enterprise,” said Ursula
Burns, Xerox chairman and chief executive officer. "He's helped strengthen our
financial foundation, which will serve his successor, our company and our
shareholders well for the long term."

Added Maestri, "I came to Xerox with a strong belief in its strategic
direction and I leave with even greater confidence in the company's rich
opportunity as a leader in outsourcing services and document technology. It's
been an incredible learning experience to be part of this major business shift
for such a respected brand. I'm proud of our progress, and I know Xerox is on
very firm footing for sustainable success."

Burns noted that the company has initiated an external search for a new CFO,
and that Maestri will be with Xerox through the end of February to help manage
the financial leadership transition. She added that the company remains on
track to meet its fourth-quarter guidance, which include GAAP earnings per
share of 24 to 26 cents or adjusted earnings per share of 28 to 30
cents.Xerox will announce its fourth-quarter and full-year 2012 earnings on
January 24.

About Xerox

With sales approaching $23 billion, Xerox (NYSE: XRX) is the world’s leading
enterprise for business process and document management. Its technology,
expertise and services enable workplaces – from small businesses to large
global enterprises – to simplify the way work gets done so they operate more
effectively and focus more on what matters most: their real business.
Headquartered in Norwalk, Conn., Xerox offers business process outsourcing and
IT outsourcing services, including data processing, healthcare solutions, HR
benefits management, finance support, transportation solutions, and customer
relationship management services for commercial and government organizations
worldwide. The company also provides extensive leading-edge document
technology, services, software and genuine Xerox supplies for graphic
communication and office printing environments of any size. The 140,000 people
of Xerox serve clients in more than 160 countries. For more information, visit, or
For investor information, visit

Non- GAAP Measures:

This release refers to the non-GAAP financial measure adjusted EPS (earnings
per share). Fourth-quarter 2012 guidance excludes the amortization of
intangible assets.

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XEROX^®, XEROX and Design^® are trademarks of Xerox in the United States
and/or other countries.


Karen Arena, +1-203-849-5521
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