Printer company Lexmark International Group Inc says chief executive officer Marvin Mann – the man who’s led the company since its breakaway from IBM Corp in 1991 – is stepping aside. Lexmark’s board has elected Paul Curlander to the newly-created position of president and CEO. Mann had previously served as chairman, president and CEO, and will remain chairman. The company says Mann, who recently turned 65, is looking to create a smooth leadership transition by taking a less active role in the running of the company. The move has been planned for some time, with Curlander being groomed for the new job. Until he eventually retires, Mann figures to keep a hand in the running of the company and offer strategic advice. Curlander, who served most recently as president and chief operating officer, has also been with Lexmark since its birth, when he was general manager of printer operations. Prior to the leveraged buyout of Lexmark from IBM, Mann spent 32 years at Big Blue where he held numerous senior management positions. Under him, Lexmark’s revenues grew to $2.5bn in fiscal 1997, and it expanded geographically into more than 24 countries. Mann also led the transition of the printer and associated supplies business from less than 50% of total revenues in 1991 to more than 80% in 1997.
