Xerox factfile

Xerox factfile

Who is he?

Mr Joe Browne is director and general manager Ireland operations, Xerox (Europe). In July he also took on responsibilities for Xerox Ireland's local sales effort.

What is the background?

Xerox Corporation is emerging from a major restructuring and cash crisis that threatened its short-term future. Its European arm lost €610 million in the year to December 31st, 2000.

Why is it in the news?

Xerox will relaunch in the Republic on October 17th, two years since it announced its global turnaround strategy. It has completely revamped its distribution and sales organisation.

How is Xerox preforming now?

After achieving $1 billion cost savings and $2.4 billion in asset sales, Xerox made a small profit in the second quarter of 2002 - its first for a year.

However, it currently faces a criminal investigation into its accounting activities after restating $6.4 billion in revenues.