Jacobson, who was viewed as the front runner for the role, is currently president of Xerox Technology.
He joined Xerox four years ago and has a long track record in senior roles at printing industry suppliers. Prior to joining Xerox he was chief executive of Presstek, and before that he ran Kodak’s Graphic Communications Group and was chief executive of Kodak Polychrome Graphics prior to that.
Xerox chairman and chief executive Ursula Burns praised Jacobson’s expertise and qualities as an executive.
“Jeff is a great leader with a passion for our business and employees, deep customer relationships and a clear strategic vision to capitalise on the opportunities ahead,” she said.
Burns will become chairman of the $11bn (£8bn) Xerox Corporation business after the split.
Jacobson said he was honoured to be chosen for the new role, and looked forward to the new challenge. “As an independent company and with the benefit of the strategic transformation we are aggressively implementing, we will capture the many opportunities available to us to strengthen core businesses and pursue select growth opportunities,” Jacobson said.
Earlier this week Xerox announced that its business process outsourcing business would be renamed Conduent.