Company News: Xerox CFO Luca Maestri to Leave Company

Xerox today announced that Luca Maestri, executive vice president and chief financial officer, is leaving the company, effective February 28, to assume the role of corporate controller at Apple.

"Luca is a stellar finance executive whose contributions have brought great value to the transformation of Xerox into a services enterprise," said Ursula Burns, Xerox chairman and chief executive officer. "He's helped strengthen our financial foundation, which will serve his successor, our company and our shareholders well for the long term."

Added Maestri, "I came to Xerox with a strong belief in its strategic direction and I leave with even greater confidence in the company's rich opportunity as a leader in outsourcing services and document technology. It's been an incredible learning experience to be part of this major business shift for such a respected brand. I'm proud of our progress, and I know Xerox is on very firm footing for sustainable success."

Burns noted that the company has initiated an external search for a new CFO, and that Maestri will be with Xerox through the end of February to help manage the financial leadership transition. She added that the company remains on track to meet its fourth-quarter guidance, which include GAAP earnings per share of 24 to 26 cents or adjusted earnings per share of 28 to 30 cents. Xerox will announce its fourth-quarter and full-year 2012 earnings on January 24.