LEXINGTON, Ky. (AP) - The president and CEO of Lexmark has resigned just a little more than a year after he took over the Lexington-based company.
According to a news release on Tuesday, Rich Geruson cited "personal reasons" as the reason for his sudden departure. His resignation is effective immediately.
Geruson's resignation marks the third CEO Lexmark has seen in three years.
David Reeder, Lexmark's previous CEO before Geruson, also cited personal reason before leaving the company in 2017.
Lexmark employs nearly 1,500 people at its Lexington complex.
Earlier this year, Lexmark announced it would lay off about 1,000 positions as part of a worldwide restructuring plan.
Lexmark was bought out by a consortium of Asian investors in 2016.
A search for Geruson's replacement is ongoing.