It continues to seek a CEO for Xerox; in May, Burns announced her intention to step down as CEO but continue as chairman of the document management business. In June 2016, the company announced that Jeff Jacobson will become the new CEO following the completion of the company's planned separation. This became effective in January 2017. On January 31, 2018, Xerox announced that Fujifilm had agreed to acquire a 50.1% controlling stake in the company for US$6.1 billion, which was to be combined into their existing joint venture Fuji Xerox (having a value of $18 billion post-acquisition). On May 1, 2018, it was announced that Chairman Robert Keegan and CEO Jeff Jacobson and four other directors would resign as part of a deal with investors Carl Icahn and Darwin Deason, who had mounted a proxy fight to oppose the Fujifilm deal. On May 4, Xerox backed away from the deal after stipulations about ceasing litigation were not met. Icahn and Deason responded with an open letter to shareholders blaming the board and management. On May 13 a new deal was reached that additionally cancelled the Fujifilm transaction. In November 2019, Xerox began to pursue a hostile takeover of PC and printer manufacturer HP Inc., declaring its intent to "engage directly" with shareholders after HP rejected two unsolicited bids for the company. Xerox stated in January 2020 that it would pursue the replacement of HP's board. HP has criticized the proposed purchase as a "flawed value exchange" based on "overstated synergies", and instituted a shareholder rights plan and other measures designed to quell the bid, which the company believed was being orchestrated by Icahn. 2020s In February 2020, Xerox announced the hiring of Tali Rosman as VP of Xerox's 3D business. She joins Xerox from NICE, where she was vice president and head of business operations for the Americas. She will report to CTO Naresh Shanker. On March 5, HP revealed that its board of directors has unanimously declined Xerox's $24 a share cash-and-stock offer. On March 13, Xerox revealed that they are putting their campaign to acquire HP on hold by postponing additional presentations, interviews with the press and meetings with HP shareholders. Xerox Vice Chairman and Chief Executive John Visentin cited the COVID-19 pandemic as a main reason and said, "In light of the escalating Covid-19 pandemic, Xerox needs to prioritize health and safety of its employees, customers, partners