Xerox Makes Its Interim Finance Chief Permanent

Mr. Heiss, a 32-year Xerox veteran, most recently led the printer-and-copier giant’s operations in Europe, the Middle East and Africa. He has also served as controller and as CFO of the company’s Americas operations.

“His well-established relationships across the business and with global customers position him well to help speed our transformation at a critical time in the company’s history,” Chief Executive John Visentin said.

Friday’s appointment comes at the end of a tumultuous year for Xerox. The company in March abandoned its hostile takeover of rival HP Inc. following a drop in Xerox’s market capitalization.

Xerox’s business has taken a hit during the coronavirus pandemic as companies have shifted to remote work and many offices remain empty. Net income for the quarter ended Sept. 30 was $90 million, compared with $221 million a year earlier.

The pandemic “is accelerating the decline in print dependency for enterprises,” said Julie Bhusal Sharma, an analyst at Morningstar Inc., a research and ratings firm. “That acceleration will last after Covid is gone.”

Xerox’s management will be tasked with finding new ways to boost revenue in the months ahead. One avenue it could pursue is focusing more on the digital packaging and workflow software businesses, analysts said.

Additional cost cuts also are on the table, Ms. Bhusal Sharma said, following earlier efforts to reduce its real estate footprint and its head count. Xerox had about 27,000 employees globally as of Dec. 31, 2019, compared with 32,400 employees a year earlier.

The company didn’t immediately respond to a request for additional comment.

Write to Kristin Broughton at [email protected]