Why Xerox (XRX) Hit a One-Year High Today

NEW YORK (TheStreet) -- Xerox Corp.  (XRX) was rising 1.5% to $12.17 on Monday afternoon after the company named Jeff Jacobson as its new Chief Operating Officer of Xerox Technology and Andrew Copley as president of Xerox Graphic Communications Operations.

As of 3:45 p.m. EST, the company had hit a one-year high of $12.29 and amassed a volume of more than 15 million compared to its average of 10,311,900. 

"Driving competitiveness and achieving benchmark operational excellence are critical planks of our technology business strategy," Jacobson said in a company statement. "These changes reflect that commitment as well as our continued focus on the graphic communications industry."

Jacobson will prioritize the strengthening of Xerox's hardware and software portfolios, increase supply chain efficiency and improve results in the Technology Global Shared Services and Graphic Communications Operations groups. He joined the company in Feb. 2012 after he worked at Presstek, where he was the president and CEO since 2007.

Copley, meanwhile, will oversee "worldwide strategy, operations, product development, marketing, sales and support for go-to-market and graphic communications customers," according to the statement. He will focus his energies on improving Xerox's cut-sheet and inkjet portfolios to enhance customers' digital transition through software and services and to simplify and optimize overall global graphic communications operations.      

Copley, who has worked in the commercial print industry for 25 years, joined Xerox in 2012 as the Senior Vice President of Xerox Graphic Communications Business Group after he worked as the Chief Commercial Officer of Precision Valve Technologies. 

TheStreet Ratings team rates Xerox as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

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