Xerox CEO Jeff Jacobson is leaving the company as part of a deal ending the fight over the company's proposed merger with Fujifilm.
Under the deal with big shareholders Carl Icahn and Darwin Deason, six members of the Board of Directors will be replaced and Icahn Enterprises CEO Keith Cozza is expected to become chairman.
John Visentin is expected to be appointed as the new Vice Chairman and CEO. The new board will meet to consider possibly ending or restructuring Xerox’s relationship with Fujifilm and the proposed merger.
Fujifilm has not made a proposal to sweeten the merger deal. This year's shareholders meeting will be postponed.