Xerox Corporation’s board of directors has announced that Jeff Jacobson will be appointed chief executive when the company formalises its planned split into two publicly traded companies.

Xerox is on track to complete the separation by the end of 2016. Xerox is set to be comprised of the company’s Document Technology and Document Outsourcing businesses. Conduent will be a business process services company.

Mr Jacobson, who currently serves as president of Xerox Technology, will continue in his current role until the separation is complete.

“Jeff is a great leader with a passion for our business and employees, deep customer relationships and a clear strategic vision to capitalise on the opportunities ahead,” said Ursula Burns, chairman and chief executive officer of Xerox Corporation.

“During his four years at Xerox,” continued Ms Burns, “Jeff has driven significant productivity and cost efficiency efforts while maintaining our commitment to innovation, quality and leading technology.

“With his previous public-company CEO experience and his track record and achievements at Xerox, the Board and I are confident he is the best person to lead Xerox forward.”

“Honoured” by the board’s decision

Mr Jacobson, an industry veteran, joined Xerox in 2012 as the president of Global Graphic Communications Operations. He became the president of the Xerox Technology business in 2014 tasked with responsibility for worldwide strategy, sales channel operations, marketing, technical services and customer support, product development, manufacturing and distribution.

Mr Jacobson said he was “honoured by the board’s decision” to appoint him to lead “one of the world’s most iconic companies”.

Expressing “confidence” in building a “bright future” on top of Xerox’s existing foundations, he added: “As an independent company and with the benefit of the strategic transformation we are aggressively implementing, we will capture the many opportunities available to us to strengthen core businesses and pursue select growth opportunities.”

Ann Reese, Xerox’s lead independent director, described her colleague as the “right” choice to lead Xerox’s document technology company. “The board employed a rigorous internal and external search and undertook a thoughtful process to identify the right talent. Jeff has shown he is well-equipped to execute on the work we are doing now and to leverage future opportunities for the benefit of our shareholders, clients, partners and employees.”

Prior to joining Xerox, Mr Jacobson served as the president, chief executive officer and chairman of digital offset printing solutions supplier, Presstek.