0001193125-26-140584
SEC filingXerox Holdings Corporation appointed Louis J. Pastor as its new Chief Executive Officer and to its Board of Directors, effective March 31, 2026, succeeding Steven Bandrowczak.
Xerox Holdings Corporation announced a significant leadership transition, with Louis J. Pastor succeeding Steven Bandrowczak as CEO. Pastor, who has been with Xerox since 2018 and most recently served as President and Chief Operating Officer, brings deep internal knowledge and operational experience to the role. His appointment to the Board of Directors underscores the company's confidence in his strategic leadership. The compensation package for the new CEO is substantial, featuring a high base salary, a significant bonus target, and a multi-million dollar long-term incentive award, aligning his interests with shareholder value creation through equity ownership requirements. The departure of former CEO Bandrowczak is structured with a separation agreement that provides for continued equity vesting and a prorated bonus, contingent upon his cooperation during a transition period and adherence to restrictive covenants, including a 24-month non-compete. Concurrently, the company reaffirmed its full-year 2026 financial guidance, signaling management's intent to maintain strategic and operational continuity despite the executive change. This transition represents a planned succession, leveraging internal talent, and aims to provide stability for investors.