Reeder Replaces Rooke as Apex-Lexmark Deal Concludes

A few changes will be made to Lexmark International, Inc (Lexmark) following the completion of its acquisition by a consortium lead by Apex Technology Co., Ltd.

The OEM announced the close of the deal on November 29, 2016. The statement advised the company will continue to function as before from its headquarters in Lexington, Kentucky. The company’s common stock (LXK) has ceased trading on the New York Stock Exchange.

The announcement also revealed David Reeder, the former Lexmark Vice President and CFO, will take the place of Paul Rooke as the new President and CEO of the company. Rooke complimented his new successor’s work. He believes Reeder is well equipped to continue Lexmark’s transformation for the customers and employees. “I have had 25 fantastic years at Lexmark, the last six as chairman and chief executive officer,” Rooke said.

In addition, with the focus on developing the imaging business notably in China and the Asian-Pacific region, the consortium intends to sell the enterprise software business. The decision will result in the separation of the enterprise software group from Lexmark to be rebranded Kofax.

“We are now uniquely positioned to grow the company in China and greater Asia, along with continuing to deliver industry-leading products and services to customers in other regions of the world,” said Reeder. “I’m honored to lead Lexmark into its next phase of opportunities and growth.”

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