Thursday, October 6, 2022
More
    HomeBusinessJohn Visentin, Xerox C.E.O., Dies at 59

    John Visentin, Xerox C.E.O., Dies at 59

    John Visentin, the chief executive of Xerox who led the photocopying and technology company through a tumultuous pandemic at a time when demand for printed documents and ink waned, died on Tuesday. He was 59.

    Mr. Visentin, who became C.E.O. in May 2018 and was also the vice chairman, died of “complications from an ongoing illness,” the company said in a statement. A spokesman for Xerox did not share details about that illness or say whether Mr. Visentin told the company about it.

    Steve Bandrowczak, the president and chief operating officer at Xerox, will serve as its interim C.E.O., the company said.

    “John’s vision was clear, and the Xerox team will continue fulfilling it — not only to deliver on our commitments to our shareholders, customers and partners, but also to pursue John’s legacy,” Mr. Bandrowczak said in a statement.

    Before occupying the top position at Xerox, Mr. Visentin was steeped in the world of technology and business: He worked as an adviser to the chairman at Exela Technologies, an automation company, and was an operating partner for Advent International, a private equity firm.

    After joining Xerox, Mr. Visentin sought to broaden the company’s offerings. For years, Xerox had been known as a hub for office technology, especially its xerographic copier, or Xerox machine — a ubiquitous, bulky product that commercialized the process of making photographic copies onto paper.

    Mr. Visentin turned more attention “to digital and I.T. services, financial services and disruptive technologies,” James Nelson, the chairman of Xerox’s board of directors, said in a statement.

    Under Mr. Visentin’s helm, the company also tried to make inroads in 3-D printing.

    His selection as C.E.O. in 2018 was preceded by Xerox’s calling off its merger deal with Fujifilm of Japan after reaching a settlement with a shareholder activist and another major investor who sharply opposed the deal.

    In November 2019, Xerox made a takeover offer to HP, a business synonymous with printers, in an effort to combine the two companies and cut costs.

    The merger was supported by Mr. Visentin, who appeared to believe that the industry needed some sort of consolidation in order to appease shareholders concerned about the accelerating erosion of the traditional printing business.

    The deal deteriorated after HP found that the cash-and-stock offer from Xerox undervalued the company. Later that month, it formally turned down the takeover offer, dealing a blow to Mr. Visentin’s business plans.

    A graduate of Concordia University in Montreal, Mr. Visentin began his career at IBM, according to his LinkedIn profile. He worked there for more than 20 years and then moved to HP. From 2013 to 2017, he was the chief executive of Novitex Enterprise Solutions, his company biography states.

    Xerox described Mr. Visentin in its statement as a leader “who navigated the company through unprecedented times and challenges.”

    He is survived by his wife and five daughters.

    Jesus Jiménez contributed reporting.

    RELATED ARTICLES

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    - Advertisment -
    Google search engine

    Most Popular

    Recent Comments