Boston, MA, 03/30/2013 – The pioneer of the photocopying and printing world Xerox Corporation (NYSE:XRX) (current: $8.60, Up by 0.70%) is now looking at diversifying its business and services across a wider spectrum of industries. In this effort, it needs experienced people with a new outlook, vision and versatility. In hiring Kathryn Mikells as its Chief Financial Officer, the company has added value to its echelons as she comes with a vast and varied repertoire of experience. The 47-year old Mikells will be joining Xerox effective May 2. She was the CFO and home-security provider at ADT Corp (NYSE:ADT) (current: $48.94, Up by 0.72%). Before that she was in the employ of the energy technology and water treatment company, Nalco Holding company and she had also worked at UAL Corp which was the former parent company of United Airlines.
Ursula Burns was making some strategic changes within Xerox Corporation (NYSE:XRX) and shifting focus from its traditional printing business towards services which at the moment account for 50 percent of the company’s current revenue. The company has projected that by 2017 that figure will be 2/3rd of the total company revenue. The face of the printing market is changing; People are accessing most of their documents via smartphones and other mobile devices. There is also a lot of stress on environment friendly and cost-cutting measures within several large corporates. This has led to a decline in printing and Xerox feels that this is the right time to shift focus to other business options and avenues. In a statement Burns said that Kathy is a treasure-house of experience and has an extensive financial management background as well as experience in the global technology and services fields.