Xerox CEO, Board Stay Put After Settlement Deal Expires

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Xerox CEO, Board Stay Put After Settlement Deal Expires

Xerox Corp. late Thursday said its existing board and management would stay in place after an agreement with two of its biggest shareholders to oust the company’s chief executive and shuffle the board expired.

The company said in a news release that the agreement with Carl Icahn and Darwin Deason, reached Tuesday, had expired at 8 p.m. ET on Thursday without the execution of “stipulations discontinuing the Deason litigation with respect to the Xerox defendants.”

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