As part of Xerox Holdings Corp.'s acquisition of Lexmark International Inc., the company has announced that two distinguished Lexmark executives will join its Executive Committee at the close of the acquisition. Further strengthening the Xerox leadership team, Kim Kleps will serve as Xerox chief people officer, effective immediately.

These leaders bring deep industry expertise to Xerox. They will play a critical role in shaping the future combined company as it integrates Lexmark’s renowned imaging solutions and technologies into its portfolio. The incoming Executive Committee members are:

• Billy Spears, chief product development & delivery officer
• Chuck Butler, chief business services officer

"Welcoming these outstanding Lexmark leaders and naming Kim as chief people officer marks an exciting step forward for Xerox," said Steve Bandrowczak, CEO, Xerox. "Their collective insight, experience, strategic vision and commitment to innovation will be instrumental as we come together to build a stronger, more dynamic organization and redefine what’s possible across print, digital and IT services."

The acquisition, valued at $1.5 billion, is expected to close in the third quarter of 2025, subject to regulatory approvals and customary closing conditions. By combining Lexmark’s industry-leading innovations with Xerox’s robust portfolio, the newly integrated organization is positioned to serve more than 200,000 clients in more than 170 countries, offering best-in-class print, digital and IT services.  

"Our expanding leadership team underscores our shared commitment to delivering unparalleled technology solutions worldwide," Bandrowczak said. "Together, we are creating a powerful synergy to drive operational efficiencies and unlock new opportunities for our clients and partners as we return Xerox to growth."