Dive Brief:
- Xerox tapped Louie Pastor to fill the CEO role vacated by Steve Bandrowczak, effective immediately, the company said in a Monday announcement. Pastor has held a series of executive positions since joining Xerox in 2018, most recently serving as president and COO since September.
- Bandrowczak also joined the company in 2018, initially as president and COO, and was elevated to CEO shortly after the passing of his predecessor John Visentin in June 2022. During Bandrowczak’s tenure, Xerox shored up its position in the printer market with the $1.5 billion acquisition of Lexmark last summer and expanded its IT services footprint with the 2024 purchase of ITsavvy for $400 million.
- The M&A moves paid off. Despite a sluggish market for print technologies, Xerox saw revenues increase 26% year over year to more than $2 billion during the last three months of 2025, driven by the addition of Lexmark and ITsavvy, Bandrowczak said in January, during a Q4 2025 earnings call.
Dive Insight:
Pastor’s appointment comes at an inflection point for Xerox and the broader print industry. Managed services are displacing traditional hardware sales and the market for the humble office printer is shrinking. Xerox and other hardware vendors, including HP, are pivoting to a model where partners manage entire office suites of technology; they don't just sell boxes.
“Xerox faces a well-understood set of secular challenges in its core print business,” Alex Smith, VP of channels research and practice operations at the Futurum Group, said in an email. “Enterprise print volumes continue to decline as organizations digitize workflows and modernize their document and content management systems.”
The company has leaned on the channel to deliver on the services side. In February, Xerox integrated Lexmark’s go-to-market operations into a unified partner program in a first step toward reclaiming print market share.
“Unifying the Xerox–Lexmark sales model allows us to eliminate redundancies, improve efficiency and increase our ability to deliver value as we sharpen our focus on sustained revenue, profitability, and long-term performance,” Jacques-Edouard Gueden, Xerox CRO, said in the announcement.
Futurum Group characterized the move as a defensive repositioning that concentrated in-house direct sales on large enterprise customers while shifting small and midsized business accounts to the channel.
“Xerox's consolidation moves — streamlining the business and rationalizing its portfolio —are sensible,” Smith told Channel Dive. “It is trying to consolidate into a position of strength in a market that is structurally shrinking, extracting maximum value from its installed base while it figures out the next chapter.”
As Xerox turns the page on pure print with an eye on the growing IT services market, it faces hefty competition from established and emerging players.
“You have pureplay global systems integrators like Accenture, which recently claimed $1.2 billion in generative AI bookings alone, alongside a new generation of 'solution integrators' that are investing heavily in high-value software and cloud services capabilities, often through aggressive M&A,” Smith said.
Timing is of the essence as Pastor takes the helm. Only 12% of channel organizations sell print technologies, down from 14% in 2025, according to a Futurum Partner Survey of 400 organizations. Just 16% of respondents expected print to drive growth in 2026.
“Building credible IT services capabilities at scale, particularly in areas like cloud, cybersecurity, and AI, requires either significant organic investment in skilled talent or a meaningful acquisition strategy,” Smith added. “It's a very different muscle than managing a print fleet.”
