NORWALK (dpa-AFX) - At its annual meeting of shareholders, Xerox corp.'s (XRX) chairman and Chief Executive Officer,Ursula Burns, detailed the company's solid financial position, progress in evolving to a services-led, technology-driven company and the steps the company is taking to capitalize on growth opportunities.
In her address to shareholders, Burns said, 'With services now representing 55 percent of our total revenue and growing to two-thirds by 2017, we believe this is a good time to keep your eye on Xerox..Through services-led growth, profitable leadership in document technology, our cash-generating annuity-based business model and earnings expansion, we have the financial strength to invest in building value for Xerox and for our stakeholders.'
The company also said that its shareholders elected by an majority vote 10 members of the company board of directors. The elected board of directors are Glenn Britt, Ursula Burns, Richard Harrington, William Curt Hunter, Robert Keegan, Robert McDonald, Charles Prince, Ann Reese, Sara Martinez Tucker and Mary Agnes Wilderotter.
In addition, the company noted that its shareholders ratified the selection of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2013. The shareholders also approved, on an advisory basis, the 2012 compensation of the company's named executive officers; and approved an amendment and restatement of the company's 2004 equity compensation plan for non-employee directors.
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