DIGITAL digest 5-01

The company's three-pronged turnaround plan revolves around cash generation, cost base reduction and long-term growth, according to Mulcahy.

Xerox has sold half of its 50 percent stake in Fuji Xerox to Fuji Photo Film for more than $1.3 billion. Xerox also sold its China operations for $550 million, which puts the company in range of its goal of $2 billion to $4 billion in asset sales.