Lexmark Boss to Disrupt Imaging Industry?

Lexmark’s new CEO says he is fed up with being No 8 in the printer imaging market.

According to SmileyPete.com’s David Nichols, David Reeder says, “We wake up every day and we’re No. 8 in market share. I hate that.” He added, “I hope everyone in this company hates that. … Why can’t we be No. 1? It’s an audacious goal, but no one wakes up in the morning going: I want to be No. 3, and you certainly don’t wake up going, I want to be No. 8. Why not us?”

Reeder is focused on fighting competitors such as market leader HP, Ricoh, Canon and others.

The married 42-year-old father of three replaced Paul Rooke in 2016 and was on hand in November in Beijing to see the acquisition completed by a group of investors headed by China-based Apex Technology and PAG Asian Capital. At the time, Lexmark described the terms of the deal as an “all-cash transaction valued at approximately $3.6 billion, or $40.50 per share.”