Xerox CEO who oversaw company's stock plumet 90% steps down effective immediately

Xerox’s top boss is stepping down after a brutal collapse that saw the company’s stock crater more than 90% — capping a turbulent tenure marked by layoffs, dealmaking and deepening losses.Steve Bandrowczak, who took home total compensation of $14.3 million in 2024, quit as CEO on Monday, ending a run that began in August 2022 and coincided with one of the sharpest shareholder wipeouts in the company’s modern history.Xerox’s board of directors tapped Louie Pastor to succeed Bandrowczak as CEO effective immed ...