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5 Companies That Had A Rough Week

For the week ending May 18, CRN looks at IT companies that were unfortunate, unsuccessful or just didn't make good decisions.

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Xerox CEO Jacobson Is Ousted – Again – As Activist Investors Appear To Win

The battle over the future of Xerox that has dragged on for several weeks appeared to come to an end this week with CEO Jeff Jacobson and five board members resigning in the face of opposition from activist investors Carl Icahn and Darwin Deason.

Jacobson and the board members had briefly resigned earlier this month, but returned within days when an agreement with the shareholders fell through.

Sunday Xerox's board issued a statement saying it was killing a deal to be acquired by Fujifilm and announced the departures of Jacobson and the five board members. On Wednesday the company named John Visentin, a senior consultant to Icahn Enterprises, to be the new Xerox CEO.

Xerox's problems may not be over, however. On Friday, Fujifilm said it plans to sue Xerox, claiming the merger is still on.

 
 
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