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New York court documents released on Tuesday showed that Jeff Jacobson, chief executive of Xerox (XRX.N), agreed to resign, which is one of the conditions for settling shareholders' lawsuit. The lawsuit challenged the deal between Xerox and Fuji Fujifilm (4901.T).
The proposal also needs to be approved by the court. In addition, it is suggested that Jacobson will withdraw from Xerox's board of directors, and the other six boards, including Chairman Robert Keegan, will also withdraw.
The lawsuit alleges that Jacobson even pushed ahead with the Fuji film trade after the board suggested stopping negotiations.
Fuji film and Xerox reached a $6 billion 100 million deal in January, and Xerox will be incorporated into the two companies' existing joint venture, Fuji Xerox (Fuji Xerox), to gain scale and cut costs as the demand for office printing equipment falls.

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