Looks like Xerox’s CEO is Actually Staying on Board

It was earlier this week that the CEO of Xerox was going to step down with several board members under a deal with activist investors Carl Icahn and Darwin Deason.

It looks like developments have changed however and CEO Jeff Jacobson is staying put.

It was on Friday that the company appealed a court ruling to block its deal with Fujifilm Holdings that Xerox had announced at the beginning of the year.

This move came hours after Xerox said its CEO and directors would not leave as the agreement to remove them with Icahn and Deason had expired late Thursday.

According to a professor at Harvard’s law and business schools, Guhan Subramanian, the copany changing its mind and appealing was “extraordinary and highly unusual.”

A source has said that the company is already renegotiating its deal with Fujifilm. The source also said that the two companies may come up with a new structure all together.

Disclaimer: We have no position in Xerox Corp. (NYSE: XRX) have not been compensated for this article.