Xerox Holdings Corporation has named former Lexmark CFO Chuck Butler as its new chief financial officer, effective December 3, 2025. Butler will replace Mirlanda Gecaj, who will depart the company on December 2, 2025, after a mutual agreement with the board. The transition is part of Xerox’s ongoing Reinvention strategy, which seeks to align leadership with strategic priorities and strengthen operational integration.
Butler brings a deep history with Xerox’s recent acquisition of Lexmark, having served as Lexmark’s CFO during the July 2025 integration. His experience is expected to accelerate the consolidation of financial systems and support the company’s focus on services‑led, software‑enabled solutions for hybrid workplaces. In addition to his CFO duties, Butler will retain oversight of Xerox’s Global Business Services organization, a move that centralizes financial oversight with operational support and is intended to improve decision‑making speed and cost discipline.
Gecaj’s departure will be accompanied by a severance package that includes prorated continued vesting of restricted stock units through December 2, 2026, contingent on a release and non‑competition agreement. The orderly transition underscores the board’s confidence in Butler’s ability to guide the company through the next phase of growth while maintaining continuity in financial leadership.
Xerox’s financial performance has faced significant challenges, with declining margins and a distressed Altman Z‑Score that places the company in a distress zone. The company’s market value has fallen sharply over the past year, reflecting investor concerns about profitability and long‑term viability. Butler’s appointment signals a renewed emphasis on operational efficiency, cost control, and integration of the Lexmark acquisition to drive margin recovery and revenue diversification.
CEO Steve Bandrowczak praised Butler’s track record, noting that “Chuck is a trusted leader with deep expertise and a strong record of driving operational excellence.” Bandrowczak added that Gecaj’s contributions were “meaningful” during a period of transformation and that Butler’s leadership will help advance the company’s Reinvention strategy, focusing on next‑phase growth and performance.
The CFO transition aligns with Xerox’s broader strategy to strengthen financial governance, streamline operations, and capture synergies from the Lexmark acquisition. By consolidating financial and operational oversight under Butler, Xerox aims to improve cost discipline, accelerate integration, and position the company for sustainable growth in a challenging market environment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.