NORWALK, Conn. —
Xerox (NYSE: XRX) announced today the appointment of Robert Zapfel as president, Xerox Services and an executive vice president of the corporation reporting to Xerox Chairman and Chief Executive Officer Ursula Burns. He will join the company on April 1 and will succeed Lynn Blodgett, who will retire at the end of 2014. Blodgett will continue with the company as a corporate executive vice president assisting in a seamless transition to Zapfel.

“Bob Zapfel brings to Xerox extensive experience in global services with an emphasis on transforming complex operations to customer focused, profitable and sustaining businesses,” said Burns. “His deep industry knowledge will help drive Xerox Services’ Five-Plank Strategy to increase customer value and improve our competitiveness and margins.”

“I’m encouraged by the company’s strategy to build sustainable value for all its stakeholders. In a very short time, Xerox has built a great collection of services assets and market leading positions in attractive areas, with a strong base of clients,” said Zapfel. “It’s a thrill to be part of this historic and strategic change and to be given an opportunity to join this strong institution that pushes itself to make its clients more competitive and successful.”

Zapfel is a 35-year veteran of IBM who helped guide the transformation of the company’s Services business to a profitable model with a sharp focus on delivering excellence to clients. He left the company in 2013.

Over the span of two decades at IBM, Zapfel held a host of senior leadership positions in Services, including head of the IBM’s Global Technology Services business for the Americas, head of its 90,000 person strong Global Delivery organization, and head of Strategy. He also ran the Travel and Transportation and Financial Services verticals, as well as the services operations in Latin America. In addition, Zapfel ran IBM’s global financing unit. He began his career in Chicago as a sales representative in 1977.

Zapfel served on the board of directors of Viewpointe from its founding in 2000 through 2013. He holds a Bachelor of Arts degree from Northwestern University, and a Master of Management degree from the university’s Graduate School of Management. He received a Juris Doctor from the Chicago-Kent College of Law. Zapfel lives in Westport, C.T. with his wife; they have seven children.

“As we welcome Bob, we thank Lynn Blodgett for his dedication to Xerox and his energy around fostering an entrepreneurial spirit with employees,” said Burns. “Lynn has shaped an industry throughout his long and successful career and we are grateful for his contributions.”

Lynn Blodgett joined Xerox as president of the Services business in 2010 through the company’s acquisition of Affiliated Computer Services or ACS. He has been a significant contributor to the integration of ACS and its over 74,000 employees into the Xerox workforce and was responsible for growing ACS into a business process outsourcing (BPO) powerhouse.

Today 55 percent of Xerox’s revenue is generated by its Services business, and is expected to be two-thirds by 2017. The business consists of a broad portfolio of enterprises in BPO, information technology outsourcing (ITO) and document outsourcing (DO). Xerox Services delivers functions that include transaction processing, toll collection and call center support among a host of other operations.

About Xerox
Since the invention of Xerography more than 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com.

Forward Looking Statements
This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements reflect management’s current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially. These factors include but are not limited to: changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters in the United States and in the foreign countries in which we do business; changes in foreign currency exchange rates; actions of competitors; our ability to obtain adequate pricing for our products and services and to maintain and improve cost efficiency of operations, including savings from restructuring actions and the relocation of our service delivery centers; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term; the risk in the hiring and retention of qualified personnel; the risk that unexpected costs will be incurred; the risk that subcontractors, software vendors and utility and network providers will not perform in a timely, quality manner; our ability to recover capital investments; the risk that our Services business could be adversely affected if we are unsuccessful in managing the ramp-up of new contracts; development of new products and services; our ability to protect our intellectual property rights; our ability to expand equipment placements; the risk that individually identifiable information of customers, clients and employees could be inadvertently disclosed or disclosed as a result of a breach of our security; service interruptions; interest rates, cost of borrowing and access to credit markets; reliance on third parties, including subcontractors, for manufacturing of products and provision of services; our ability to drive the expanded use of color in printing and copying; the outcome of litigation and regulatory proceedings to which we may be a party; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section and other sections of our 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.