Inkjet & Digital Printing
Xerox Files Preliminary Proxy Statement Supporting its Slate for Election at HPs 2020 Annual Meeting
Tuesday 10. March 2020 - Xerox Holdings Corporation (NYSE: XRX) (Xerox) today announced that it is filing a preliminary proxy statement with the United States Securities and Exchange Commission (SEC) in support of its slate of independent candidates to replace the board of directors of HP Inc. (NYSE: HPQ) (HP) at HPs 2020 Annual Meeting of Stockholders.
Following the expansion of HPs board slate from 11 to 12 members, Xerox has provided notice to HP that it is adding Erroll B. Davis, Jr., former chairman and chief executive officer of Alliant Energy Corporation, to its existing slate of highly qualified director nominees. Mr. Davis has extensive public company director experience, having served on the board of directors of Union Pacific, General Motors, PPG Industries and BP.
Xeroxs slate now comprises 12 director candidates, including: Betsy Atkins, George Bickerstaff, Carolyn Byrd, Erroll B. Davis, Jr., Jeannie Diefenderfer, Kim Fennebresque, Carol Flaton, Matthew Hart, Fred Hochberg, Jacob Katz, Nichelle Maynard-Elliott and Thomas Sabatino, Jr.
“Todays filing reflects continued progress towards a combination between Xerox and HP,” stated John Visentin, vice chairman and chief executive officer of Xerox. “By nominating a slate of 12 independent, highly qualified candidates for election to HPs Board, we are giving HP stockholders an opportunity to have a board that will act in their best interests and consider any and all opportunities to create value. We urge them to take advantage of this opportunity.”
Mr. Davis commented, “Xerox has assembled an exceptional slate of nominees with extensive executive and board leadership experience. I am humbled to be part of this group and, if elected, look forward to serving HP stockholders and exploring all potential options to maximize HPs long-term value.”
About Erroll B. Davis, Jr.
Erroll B. Davis, Jr. has held several senior, high-profile positions in the private and public sectors. He was president, chief executive officer and chairman of Alliant Energy Corporation, which he helped form by merging WPL Holdings with two other public utility companies.
Following the successful integration of those businesses, Mr. Davis entered public service, first as chancellor of the University System of Georgia and then as superintendent of Atlanta Public Schools to clean up one of the largest cheating scandals in U.S. education history. Mr. Davis currently serves on the board of Union Pacific Corporation and previously served on the boards of General Motors, PPG Industries and BP. Mr. Davis provides operational and strategic experience, as well as experience with mergers and acquisitions and integrations.
Citi is acting as Xeroxs financial advisor, and King & Spalding LLP is providing legal counsel to Xerox. Willkie Farr & Gallagher LLP is providing legal counsel to Xeroxs
independent directors, and Moelis & Company is acting as financial advisor to Xeroxs independent directors.