Xerox CEO Steve Bandrowczak steps down, Louie Pastor named
Business
Xerox's CEO, Steve Bandrowczak, is stepping down on March 30, 2026, after the company's stock lost more than 90% of its value during his time in charge, one of the sharpest declines in the company's modern history.
The board has brought in Louie Pastor as the new CEO.
Xerox real sales fell 8%
Bandrowczak pushed cost-cutting and snapped up other companies to boost numbers, but Xerox's main print business kept shrinking.
Even though revenue hit $7.02 billion last year (thanks mostly to acquisitions), real sales actually dropped by about 8%.
Meanwhile, losses grew and debt climbed to $4 billion, making it clear that his turnaround plans didn't stick.