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John Visentin, the chief govt of Xerox who led the photocopying and know-how firm by means of a tumultuous pandemic at a time when demand for printed paperwork and ink waned, died on Tuesday. He was 59.
Mr. Visentin, who turned C.E.O. in Might 2018 and was additionally the vice chairman, died of “problems 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 advised 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 crew will proceed fulfilling it — not solely to ship on our commitments to our shareholders, clients and companions, but in addition 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 this 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 companion 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 referred to as a hub for workplace know-how, particularly its xerographic copier, or Xerox machine — a ubiquitous, cumbersome product that commercialized the method of constructing 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.
Underneath 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 take care of 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 firms and minimize prices.
The merger was supported by Mr. Visentin, who appeared to imagine that the business wanted some type of consolidation with the intention to appease shareholders involved concerning the accelerating erosion of the normal 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 keeping with 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 frontrunner “who navigated the corporate by means of unprecedented occasions and challenges.”
He’s survived by his spouse and 5 daughters.
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