Jacobson, who worked for Kodak and Presstek prior to joining Xerox, was recruited by Zagalo de Lima in February 2012 to head up the manufacturer's Global Graphic Communications division.

Since joining, Jacobson has been instrumental in the expansion of Xerox's inkjet portfolio – as evidenced by the Impika acquisition – and has repeatedly stated his belief that the firm needs to be as strong in inkjet as it is in toner.

Jacobson's appointment was effective from 1 July, although Zagalo de Lima is not leaving the company until the end of the year, when he will join the board of directors of US utilities firm PPL Corporation, where he will serve on the finance committee.

Xerox chief executive Ursula Burns told employees: "Armando has put the Technology Business on a solid foundation by transforming the organisation to be more customer-focused, profitable and well positioned to continuously adapt to changes in the market.

"Armando brought Jeff, an industry veteran, into the company two years ago. Since joining Xerox, Jeff has demonstrated his knowledge, leadership and passion for the business and our customers. We now entrust him to execute our strategy."

Jacobson said: "When I joined Xerox, I was excited to become part of an iconic company – one synonymous with innovation and integrity. After two years, I believe more than ever in the opportunities ahead of us."

He added that in pursuing a goal of sustained profitability, Xerox would have to be "cost-effecient and invest in research & development, in infrastructure, in sales and marketing, in our manufacturing operations, and in our people".

"In other words we must invest in our future. To do this, we'll clearly identify markets and technologies in decline and remove costs from them, enabling investments in areas of growth."

One growth area is sure to be production inkjet, which Jacobson described as "the next big technology in our industry" following the Impika acquisition, which he said was needed to "fill the gap" surrounding the manufacturer's waterless CiPress printers.

"CiPress doesn’t meet the needs of all of our customers: some still want an aqueous solution. That’s one reason we’ve been reselling Impika presses in Europe and some developing markets," he said.

"But we want to be more than a reseller. We want to be an industry leader in production inkjet printing. To do that, we need to have full control to develop our products to our own specifications."