Xerox Appoints Jeff Jacobson as New Chief After Company Split

Xerox Corp.’s directors named Jeff Jacobson as the incoming chief executive officer of the document technology seller after the organization splits into two publicly traded companies.

The separation remains on track to occur by the end of the year, the company said Thursday in a statement announcing the appointment. Jacobson, 56, will run the $11 billion business, which will sell the copiers for which the Xerox brand is famous and also provide related services. He is currently president of the Xerox Technology business.

Earlier this month, Xerox named Ashok Vemuri to take on the CEO position for the smaller of the two new companies, which will be called Conduent and sell business process outsourcing services. That business brought in about $7 billion in revenue in 2015.

    Before it's here, it's on the Bloomberg Terminal.