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John Visentin, the chief govt of Xerox who led the photocopying and know-how firm via a tumultuous pandemic at a time when demand for printed paperwork and ink waned, died on Tuesday. He was 59.
Mr. Visentin, who grew to become C.E.O. in Might 2018 and was additionally the vice chairman, died of “issues from an ongoing sickness,” the corporate mentioned in a press release. A spokesman for Xerox didn’t share particulars about that sickness or say whether or not Mr. Visentin instructed the corporate about it.
Steve Bandrowczak, the president and chief working officer at Xerox, will function its interim C.E.O., the corporate mentioned.
“John’s imaginative and prescient was clear, and the Xerox staff will proceed fulfilling it — not solely to ship on our commitments to our shareholders, prospects and companions, but additionally to pursue John’s legacy,” Mr. Bandrowczak mentioned in a press release.
Earlier than occupying the highest place at Xerox, Mr. Visentin was steeped on the planet of know-how and enterprise: He labored as an adviser to the chairman at Exela Applied sciences, an automation firm, and was an working accomplice for Introduction Worldwide, a personal fairness agency.
After becoming a member of Xerox, Mr. Visentin sought to broaden the corporate’s choices. For years, Xerox had been often known as a hub for workplace know-how, particularly its xerographic copier, or Xerox machine — a ubiquitous, cumbersome product that commercialized the method of creating photographic copies onto paper.
Mr. Visentin turned extra consideration “to digital and I.T. companies, monetary companies and disruptive applied sciences,” James Nelson, the chairman of Xerox’s board of administrators, mentioned in a press release.
Beneath Mr. Visentin’s helm, the corporate additionally tried to make inroads in 3-D printing.
His choice as C.E.O. in 2018 was preceded by Xerox’s calling off its merger cope with Fujifilm of Japan after reaching a settlement with a shareholder activist and one other main investor who sharply opposed the deal.
In November 2019, Xerox made a takeover supply to HP, a enterprise synonymous with printers, in an effort to mix the 2 corporations and lower prices.
The merger was supported by Mr. Visentin, who appeared to consider that the trade wanted some type of consolidation so as to appease shareholders involved in regards to the accelerating erosion of the standard printing enterprise.
The deal deteriorated after HP discovered that the cash-and-stock supply from Xerox undervalued the corporate. Later that month, it formally turned down the takeover supply, dealing a blow to Mr. Visentin’s enterprise plans.
A graduate of Concordia College in Montreal, Mr. Visentin started his profession at IBM, in response to his LinkedIn profile. He labored there for greater than 20 years after which moved to HP. From 2013 to 2017, he was the chief govt of Novitex Enterprise Options, his firm biography states.
Xerox described Mr. Visentin in its assertion as a pacesetter “who navigated the corporate via unprecedented instances and challenges.”
He’s survived by his spouse and 5 daughters.
Jesus Jiménez contributed reporting.
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