Xerox Holdings Corporation (NASDAQ: XRX) announced that Louie Pastor has been appointed Chief Executive Officer, effective immediately, replacing Steve Bandrowczak who stepped down from the position.

Pastor previously served as President and Chief Operating Officer at Xerox, where he led enterprise transformation, global service delivery, revenue operations, marketing and communications, and the company's people and technology organizations. In his prior role, he played a central part in advancing the company's strategy and driving operational performance.

"On behalf of the Board and the entire Xerox team, I want to thank Steve for his leadership during a pivotal period for the company, including the successful acquisitions and integrations of Lexmark and ITsavvy," said Scott Letier, Chairman of the Xerox Board of Directors.

Bandrowczak's departure follows his tenure during what the company describes as a period of significant industry change. The outgoing CEO expressed confidence in Pastor's ability to lead the company forward.

"I am honored to step into the role of CEO and lead Xerox into its next chapter," Pastor said. "We have a strong team and a clear focus on execution. I look forward to driving results and delivering on our priorities."

The company reaffirmed its full-year 2026 financial guidance and stated it remains on track to deliver on its financial and operational targets. Xerox completed the acquisition of Lexmark in 2025, expanding its global footprint and service capabilities.

The leadership transition comes as Xerox continues operating as a services-led, software-enabled company focused on workplace technologies and hybrid work solutions.