John Vicentine, the CEO of Xerox, who led the imaging and technology company through a stormy pandemic at a time when demand for printed documents and ink dwindled, died Tuesday. He was 59 years old.
Mr. Vicentin, who became CEO in May 2018 and was also vice chairman of the board, died of “complications of an ongoing illness,” the company said in a statement. statement. A Xerox spokesperson did not give details about the disease or say if Mr. Vicentin had told the company about it.
The company said that Steve Bandruchak, president and chief operating officer of Xerox, will serve as its interim CEO.
“John’s vision was clear, and the Xerox team will continue to deliver – not only to fulfill our commitments to our shareholders, customers, and partners, but also to follow through on John’s legacy,” Bandrochak said in a statement.
Prior to taking the top position at Xerox, Mr. Visentin was immersed in the world of technology and business: he served as an advisor to the Chairman of the Board of Directors at Exela Technologies, an automation company, and was an operating partner of Advent International, a private equity firm.
After joining Xerox, Mr. Visentin sought to expand the company’s offerings. For many years, Xerox has been known as the center of office technology, especially the xerographic machine, or the Xerox machine – a ubiquitous mega-product that markets the process of making photocopies on paper.
James Nelson, Chairman of the Xerox Board of Directors, said in a statement that Mr. Vicentin has drawn more attention to “digital services, information technology services, financial services, and disruptive technologies.”
Under Mr. Vicentin’s leadership, the company has also tried to make progress in 3D printing.
He was previously selected as CEO in 2018 by Xerox Corporation Cancellation of the merger deal with Fujifilm Japan, after reaching a settlement with a shareholder activist and another major investor, strongly opposed the deal.
In November 2019, Xerox made an offer to acquire HP, a company synonymous with printers, in an effort to bring the two companies together and cut costs.
The merger was backed by Mr. Visentin, who appeared to believe the industry needed some sort of consolidation in order to satisfy shareholders worried about the accelerating erosion of the traditional printing business.
The deal went downhill after HP found that the money and stock supply from Xerox was reducing the value of the company. Later that month, I have officially declined the takeover offerdealing a blow to Mr. Visentin’s business plans.
After graduating from Concordia University in Montreal, Mr. Visentin began his career at IBM, according to him. LinkedIn Profile personly. He worked there for over 20 years and then moved to HP. From 2013 to 2017, he was CEO of Novitex Enterprise Solutions Company biography states.
In its statement, Xerox described Mr. Visentin as a leader who has “traversed the company through unprecedented times and challenges.”
He left behind his wife and five daughters.
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