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Xerox reorganizing under holding company

NORWALK, Conn. (AP) -- Xerox is reorganizing under a new holding company, saying that it will have more strategic, operational and financial flexibility.

The maneuver is similar to one made by Google in 2015, when it reorganized under Alphabet.

Xerox Corp. said in a regulatory filing Thursday that the reorganization won't change its business operations, directors or executive officers.

The new holding company's shares will trade on the New York Stock Exchange under its current ticker symbol of "XRX."

The reorganization of the Norwalk, Connecticut, company, which is expected to be implemented in the middle of the year, still needs shareholder and regulatory approval.