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Xerox Corp.’s top executive and six board members agreed to step down in a victory for businessman Carl Icahn in his battle against the company’s planned $6.1 billion (¥670 billion) takeover by Fujifilm Holdings Corp.

The resignations, revealed in a Tuesday court filing, include CEO Jeffrey Jacobson and Chairman Robert Keegan and are part of an agreement with activist investors to settle a lawsuit that will put in place executives close to Icahn. Keith Cozza, CEO of Icahn Enterprises, is expected to be elected chairman, while John Visentin, who has been a consultant to Icahn in the feud against Xerox, is slated to be appointed as its new CEO.

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