Lexmark’s David Reeder Resigns

Lexmark’s newest CEO, David Reeder (pictured) has quit the position after being in the role just 7 months.

Reeder, Lexmark president and chief executive officer, says he has had to resign for personal reasons, effective immediately.

Lexmark says a search for a successor is underway. In the interim, Lexmark will be led by a management team consisting of Brock Saladin, senior vice president and chief revenue officer, and Allen Waugerman, senior vice president and chief technology officer.

Reeder began his tenure at Lexmark as chief financial officer in January 2015. He was named president and chief executive officer in November 2016. He travelled to Beijing in China in December for the official acquisition to the China consortium involving Ninestar.

“All of the Lexmark family want to thank David Reeder for his impressive efforts as CEO of the company, and as CFO as well,” said Mickey Kantor, chairman of the Lexmark Board of Directors. “We wish him and his family the best in the future.

“The Board of Directors, investors and all Lexmark executives are deeply committed to the success of our company and our priorities for the future. The changes we are experiencing will only make us stronger,” said Kantor.

“Lexmark remains focused on delivering industry-leading products and services to customers, while profitably growing our business with an emphasis on worldwide expansion,” added Kantor.

Reeder’s resignation comes as a surprise, especially seeing as only three weeks ago he was determined to disrupt the industry by becoming number one. He appeared to possess a dogged approach in his leadership.