STEVE BANDROWCZAK | EXECUTIVE BIOGRAPHY
A Career Defined by Reinvention.
Steve Bandrowczak has spent 35 years doing the hardest jobs in corporate America: taking apart global companies, putting them back together, and making them run. As CEO of Xerox from 2022 to 2026, he led an $8 billion enterprise with roughly 25,000 employees in more than 160 countries through a high-stakes reinvention.
Steve stepped into the top job following the sudden death of his predecessor, John Visentin. He inherited a company still recovering from a pandemic that had erased roughly $2 billion from its top line, with billionaire activist Carl Icahn as its largest shareholder. In 2023, he engineered a $542 million share buyback that ended Icahn's involvement and returned Xerox to independent board control. He then funded the company's transformation through creative capital moves and its two largest reinvention deals: the acquisitions of ITsavvy ($400 million) and Lexmark ($1.5 billion). He also authored X.Assist, Xerox's agentic AI operating model, in which people set direction and AI agents execute defined roles. The model and the AI Center of Excellence behind it delivered roughly $250 million in operating savings.
Before becoming CEO, Steve served as Xerox's President and COO, a period in which the company returned more than $4 billion to shareholders. His earlier career reads like a tour of the defining corporate deals of the past three decades. At Avnet, he integrated roughly 40 acquisitions over 14 years as the company grew from $2.5 billion to $16 billion. At Lenovo, he helped integrate IBM's roughly $11 billion PC division with its Chinese parent in about 24 months, one of the few deals to put a China-based company on the global stage. At DHL, he consolidated more than 200 data centers into three global hubs, delivering $2.5 billion in annual IT savings. He ran Nortel's Americas business through bankruptcy and the 2008 financial crisis, played a key role in Hewlett-Packard's historic corporate separation, and carved Alight Solutions out of Aon for a sale to Blackstone that the firm named a deal of the year. In all, he has executed 68 M&A transactions, and 26 of his former direct reports have gone on to C-suite roles.
None of it was handed to him. Steve grew up in New York, was on his own at 16, and worked heavy construction from 17 to 21 before entering a technology operations training program at Grumman Data Systems. He earned his computer science degree from Long Island University by attending school at night, and later earned a master's degree in Technology Management from Columbia University.
Today, Steve serves as an independent director and Audit Committee member at Galaxy Digital (Nasdaq: GLXY), a global leader in digital assets and AI data center infrastructure. He advises enterprise leaders on adopting and scaling AI as Senior Advisor in Sol Consulting's AI Acceleration practice and lectures on digital disruption and transformation at Northeastern University. He has been married to his high school sweetheart for 47 years, and they have one grown daughter.
