Lexmark welcomes in latest CEO

Allen Waugerman is third chief executive in three years for the company

Lexmark has appointed Allen Waugerman to head the company as president and CEO.

He is the third person to head the company in the span of three years, and replaces former chief exec Rich Geruson who resigned suddenly in November.

Waugerman has been with the print provider since its inception 28 years ago, serving in a variety of roles, including a six-month stint as interim co-CEO in 2017.

Most recently he has held the position of senior VP and CTO at the company.

"I am proud of Lexmark's recent accomplishments, including the largest product launch in our history and the development of new solutions and services such as cloud-based as-a-service offerings," Waugerman said.

"I look forward to leveraging our strengths and proprietary technologies toward broad global growth strategies that will position Lexmark for success well into the future."

The company stated that new CEO was appointed after an "extensive search".

Mickey Kantor, chairman of Lexmark's board of directors, stated: "We are pleased to appoint Allen as Lexmark president and CEO. He brings strong leadership, integrity, deep knowledge of technology and a track record of commitment to Lexmark's success, making him the right choice to lead the company toward continued global growth."