Paul Allaire
Paul Allaire
Paul Arthur Allaireis a businessman who served as CEO and Chairman of Xerox Corporation, and as a director on several other public companies...
advancing business committed directions management team totally
This is all about execution. This management team is totally committed to advancing our business strategies. Rick's directions and initiatives were, in fact, right.
advancing business committed directions management team totally
This is all about execution, ... This management team is totally committed to advancing our business strategies. Rick's directions and initiatives were, in fact, right.
anne becoming board ceo confident consistent developed effective execution gradual last leadership named plans president returned transition year
This leadership transition is consistent with the Board's plans developed last year when I returned as CEO and Anne was named president and COO. The plan called for a gradual transition of leadership with Anne becoming CEO when the Board was confident of the effective execution of Xerox's turnaround. Clearly, this requirement has been met.
board build chose consider decision directors effective eliminate execution financial helps progress provide required restoring returns serious strength turnaround xerox
After serious deliberation, the Board of Directors chose to eliminate the dividend -- a decision that contributes to the progress Xerox is making in restoring its financial strength and helps to provide the flexibility required to build on the effective execution of its turnaround plan, ... As Xerox returns to profitability, the Board will consider the reinstatement of dividends.
caused customer drag force producing product profitable relationships sales time
The disruptions in customer relationships caused by our sales force realignment, at a time when competitors have strengthened their product capabilities, is producing a drag on the second-quarter sales of our most profitable products.
current expectation fact good half improvement less momentum pushed quarter recovery second therefore turnaround
Clearly, the fact that our current expectation on the second quarter is less than we anticipated ... our recovery is pushed back in time. We do expect the turnaround to be there and be significant and therefore have an improvement in the second half and have good momentum going into 2001.
actions aggressive asset beyond cost improve including issues major obviously results review
These results are obviously disappointing and completely unacceptable. Clearly, actions beyond resolving our operational issues are required, including major cost reductions, asset dispositions and a review of the dividend level. Aggressive actions to improve profitability in 2001 are being pursued.
cash enable strengthen strong
This repositioning will strengthen us financially and enable strong cash generation.
active companies compelling considered consistent core decision difficult economy effective engaged equity execute focusing growth impact investment markets necessary office pc potential production resolve turnaround xerox
This was a difficult but necessary decision that is consistent with our resolve to execute an effective turnaround by focusing on core office and production growth opportunities, ... While Xerox was engaged in active discussions with potential equity partners, the slowdown in the economy and its impact on the PC and SOHO markets prevented these companies from making what was once considered a compelling investment in Xerox's SOHO business.
continue executing focus remains turnaround xerox
Xerox can now continue to focus on effectively executing its turnaround strategy, which remains on track,
broad digital including introduced last models technology three transition
We are accelerating the transition to digital technology with our broad digital copier line, including three new models introduced in just the last two months.
affected clearly consistent delivered earnings growth percent record reflecting revenue strong though weaker
We delivered another record quarter, reflecting strong double-digit earnings growth consistent with our objectives, even though pre-currency revenue growth - at 7 percent - was clearly affected by some weaker economies,
asset billion enhances generate greatly pledge progress turnaround xerox
With this transaction, Xerox greatly enhances its liquidity and has made significant progress on its turnaround pledge to generate more than $2 billion in asset sales,
across asset balance board improve looking strength talking
We're looking across the board at asset dispositions. We are talking about very significant asset dispositions to (try) to improve the strength of the balance sheet,