Xerox and Carl C. Icahn announced today that they have entered into an agreement under which Jonathan Christodoro has been appointed to the Xerox board of directors effective immediately. Mr. Christodoro will also join the board’s corporate governance committee and finance committee. With the addition, the Xerox board is now comprised of nine directors. Additional details regarding the agreement will be included in a Form 8-K to be filed by Xerox later today.
Jonathan Christodoro is Managing Director of Icahn Capital LP, a subsidiary of Icahn Enterprises L.P., Xerox’s largest shareholder. He currently serves as a director on the boards of American Railcar Industries, Inc., Cheniere Energy, Inc., Enzon Pharmaceuticals, Inc., Herbalife Ltd., Lyft Inc., and PayPal Holdings, Inc.
On January 29, 2016, Xerox announced its plans to separate into two independent, publicly traded companies – Xerox Corporation, which will be comprised of the company’s Document Technology and Document Outsourcing businesses, and Conduent Incorporated, a business process services company. The company is on track to complete the separation by the end of 2016.