SB being axed by the board was the final nail in the reinvention coffin. None of its architects or proponents are left in Xerox (JB,MG,SB, DMP). All gone. The street, analysts, investors, rating agencies and financial institutions have all voted with their feet. The board has finally done their job, but it’s 3 years too late. SB in his 4 years in charge missed every outlook or expectation he set. If he was a sales person or sales manager he would have been in a performance improvement plan after 2 quarters. Instead he continued to have the support of the board as the company kept draining its cash, reserves and future to keep returning funds to shareholders even when all the key metrics and results where going horribly wrong and missing plans and expectations every quarter. Now we have an untried, untested CEO who has never led a sales organisation but primary experience is legal and claim to fame is the proxy fight that stopped the Fuji merger that the board are now desperately trying to make. To put that into perspective when Fuji offered to buy Xerox they offered 40 dollars a share compared to the $1.26 a share now, let that sink in, and LP has been part of that from the beginning. The fact a legal guy is in charge should indicate to all the people still in the cult what the next steps are!!!!! We are in the endgame and none of those outcomes reinvent Xerox they consign it to the history books of what was once a trailblazer
16 replies (most recent on top)
@t5 you don’t realize how difficult it is to transform into a printer company
@b1 a xerox debacle, the truth is Xerox leaders are plain horrible, they can’t lead anything, have no business sense, don’t know the copier business and don’t know how to run as sales dealer organization, just pitiful
@t5
Why did Bandy think Wall Street would want a company to try and "reinvent" the wheel?
They want a product that is new to the market, not some fancy "spinners" on the wheel.
No new product = no $.
I am guessing he did not go to Wharton!
Reinvention did not fail, it was never a thing. SB fairy dust to prolong his insane compensation.
@hp And you will be unemployed shortly.
You people are insufferable. Disgruntled losers.
Downvote me ... PLEASE. It's a badge of honor to be downvoted by deadbeats.
@br IMO IT Services was on the road to becoming a decent MSP, then MG took the helm and seems to be dead set on turning us into a VAR in a market full of established VARs. Absolutely brainless move.
@b1 he’s been in the job 5 minutes give him chance ffs!!
Wait until you see what MG doing with IT Services. Trying to reinvent the wheel and launch something that isn’t ready or established shows how desperate he has become
Seems like the same old Xerox since LP, no one can make a decision on anything, and the 4/1 sales transition has been a debacle. Accounts were moved out of every assignment, I had a bunch of deals working, my boss said send them, to whoever, didn't even know the name of the new rep but he did tell me he wasn't going to pay me so I stopped working the deals. Complete mess, my entire team is looking for jobs elsewhere
@a9 hilarious to describe the CMO as David Brent - but that is a compliment, the CMO doesn’t even get to this level of competence, he really is ‘dinosaur world’. To even come up with a new service line of ‘Marketing as a Service’ is delusional. Welcome to the world of Xerox marketing.
The end is here and so is the race to get the DB pension out of there!! For those of us who remain I suggest you do the same. Yes we know the US and the UK have different protections, Canada does not. Once bankrupt your DB benefit goes, it will be another Sears bankruptcy if you recall what happened to all of their pensions….
@a2 HS is his name but there is still one David Brent (character from the office sitcom) who can turn the whole company around…… our CMO he is the best yes man I have ever met and the best self promoter ever. His stated ambition for 2026 was to do a better job marketing our reinvention 🤣🤣🤣
maybe we didn't go to the market enough. I need to catch a headwind and go to the market, then we'll be fine.
@OP
Spot on. The CEO is the attorney to navigate and sign docs.
If there was a chance to salvage this, they would have looked at a turnaround specialist with a track record. No search, no chance.
Very sad.
@OP there is one imbecile left. JEG! The useless frenchies always hang around. There is one other toad of a human over there, runs their production business. Forget his name but he was a knob.