Xerox's CFO Resigns To Becomes Corp Controller At Apple Inc

[Anonymous]

<p><font size=”5″><strong>Xerox’s CFO Resigns To Becomes Corp Controller At Apple Inc</strong></font></p>
<p><font size=”4″>Business process and document management company <strong>Xerox Corp</strong>. (<a href=”http://www.zacks.com/stock/news/90337/xeroxs-cfo-resigns#&#8221; alt=”XRX Stock Quote” title=”XRX Stock Quote” style=”font-weight:bold;”>XRX</a> <span> – </span> <a href=”http://www.zacks.com/registration/pfp/?ALERT=zrmodule&ADID=ZACKS_PFP_ZRMODULE&skip_rpt_name_check=skip_rpt_name_check&t=XRX&#8221; target=”_blank” alt=”Analyst Report” title=”Analyst Report”>Analyst Report</a>) recently announced that Luca Maestri, Executive Vice President (VP) and Chief Financial Officer (CFO), has resigned from his post effective February 28, 2013, to join as the corporate controller in <strong>Apple Inc</strong>. (<a href=”http://www.zacks.com/stock/news/90337/xeroxs-cfo-resigns#&#8221; alt=”AAPL Stock Quote” title=”AAPL Stock Quote” style=”font-weight:bold;”>AAPL</a> <span> – </span> <a href=”http://www.zacks.com/registration/pfp/?ALERT=zrmodule&ADID=ZACKS_PFP_ZRMODULE&skip_rpt_name_check=skip_rpt_name_check&t=AAPL&#8221; target=”_blank” alt=”Analyst Report” title=”Analyst Report”>Analyst Report</a>). Luca’s exit from Xerox’s helm is likely to affect its normal functioning, especially in the current challenging macroeconomic environment. The company has already started its search for a new CFO.<br />
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Despite tough competition and top-line challenges, Xerox witnessed remarkable success in its operations under his leadership. In addition, Luca played a key role in shaping Xerox’s strategic and operational plans. Over the years, he had successfully steered the company toward growth through tactical initiatives and expects the company to be a leader in outsourcing services in future, irrespective of the change in top leadership.<br />
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Xerox is expected to release its fourth-quarter 2012 results on January 24, 2013. The company had earlier reiterated its fourth-quarter GAAP earnings guidance in the range of 24 to 26 cents a share. The Zacks Consensus Estimate for the fourth quarter earnings is currently pegged at 28 cents.</font></p>

[Author]

January 15, 2013 at 8:22 AM