Management struggled with transitioning commoditized print business.
Vice President, Services (Former Employee) – Toronto, ON – 1 June 2017
Lexmark understood that it needed to avoid becoming the next Kodak. They had a great vision and strategy to transition the business from a commoditized print company with legacy technology into a solutions based software, services, and hardware company.
They spent hundreds of millions buying and integrating new software companies grouped under the Perceptive brand. Unfortunately, the senior executive team spent too much time jockeying for personal positions in the company – management failed to execute the integration plan!
The new owners of the print business (Apex) will continue driving cost out of this business – in hopes of recovering their investment.
Their new strategy is to keep the printers (sockets) relevant so that they can continue making money on selling high cost toner. Good Luck!
Lots of great people and products
Legacy print business is in death spiral.