Xerox Corp. said its chief executive, Jeff Jacobson, is resigning in a settlement with two of the company’s biggest investors, Carl Icahn and Darwin Deason, a pact that shakes up the majority of the board and puts its transaction with Fujifilm Holdings Corp. at risk.
The new board, whose majority is backed by the activists, is expected to consider alternatives to the deal with Fujifilm, a complex transaction that sells the majority of Xerox to the Japanese company by combining with a joint venture the two operate in Asia....