Stephen Hoover Named CEO of PARC

Press Release

Palo Alto, California – Stephen Hoover has been named chief executive officer of the Palo Alto Research Center, a Xerox company. Hoover’s appointment follows previous CEO Mark Bernstein’s retirement from PARC.

Hoover joins PARC from Xerox (NYSE: XRX) where he was most recently vice president of the company’s software and electronics development group, directing more than $175 million of research and development investments that support multiple software and electronics platforms for over 30 offerings to the market.

Hoover joined Xerox in 1994 and has held a variety of research, development, and engineering positions including vice president of the Xerox Research Center of Webster (NY), where he was responsible for research and development in services, imaging, cross-media, and hardware technologies that advance Xerox’s document technology, solutions, and services portfolio.

“Steve is not only a respected researcher but also an effective leader,” said Sophie Vandebroek, Xerox chief technology officer and president of the Xerox Innovation Group. “He shares with the PARC community a passion for exploring the unknown and a curiosity that results in breakthrough innovations. With deep expertise in translating innovation into practical technology and solutions, Steve’s skills as a scientist and experience as a business leader are a perfect fit with the renowned culture of PARC and with the clients who rely on PARC for invention and innovation.”

Hoover received his bachelor’s degree from Cornell University and masters and Ph.D. degrees from Carnegie Mellon University.

“PARC is consistently at the forefront of pioneering new breakthroughs for its clients due to both its greatest asset – the expertise and strength of its talented employees – as well as its unique business model,” said Hoover. “PARC’s dedicated team of innovators will continue to build an open environment where employees, technology visions, and business success can flourish globally.”

Hoover assumes the PARC leadership role on February 1.

About PARC

A premier center for commercial innovation, PARC, a Xerox company, is in the business of breakthroughs. We work closely with global enterprises, entrepreneurs, government agencies and partners, and other clients to invent, co-develop, and bring to market game-changing innovations by combining imagination, investigation, and return on investment for our clients. For 40 years, we have lived at the leading edge of innovation, merging inquiry and strategy to pioneer technological change. PARC was incorporated in 2002 as a wholly owned independent subsidiary of Xerox Corporation – enabling us to continue pioneering technological change but across a broader set of industries and clients today.

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