Norwalk-based Xerox Holdings Corp. said Monday its board has appointed Louie Pastor as chief executive officer, effective immediately, replacing Steve Bandrowczak.
Pastor most recently served as president and chief operating officer, overseeing areas including global service delivery, revenue operations and technology. Xerox did not disclose a reason for the leadership change.
Bandrowczak had led the company through recent acquisitions, including Lexmark and ITsavvy. He became CEO in August 2022, succeeding John Visentin.
The CEO transition comes amid a broader period of leadership and structural changes at Xerox. In November, the company named Chuck Butler as chief financial officer as part of its ongoing “Reinvention” plan, an operating model introduced in 2024 that included a roughly 15% workforce reduction and efforts to streamline operations following the Lexmark acquisition.
The company also went through a debt restructuring in 2025.
More recently, in February, Xerox entered into a joint venture with Texas-based private equity firm TPG to manage and license certain intellectual property assets. The venture secured $450 million in financing, with proceeds intended to support liquidity and other corporate priorities, including potential debt reduction.
Xerox also said it is reaffirming its full-year 2026 financial guidance.
