Xerox CEO John Visentin has died unexpectedly, it has been announced.
The company said that Visentin – who was 59 – passed away on 28 June due to complications from an ongoing illness.
Visentin joined Xerox as CEO and Vice Chairman in 2018 after activist shareholder Carl Icahn became a major shareholder in the print and technology company. Prior to that, he had managed multibillion dollar businesses in the IT services sector, including IBM Canada, IBM and Hewlett Packard Enterprise.
In his four years at Xerox, he oversaw the failed attempt to acquire HP Inc and led the OEM through COVID, a time when demand for Xerox’s core office print and document services offerings plummeted. More recently, Visentin had been crafting a strategy to diversify Xerox, creating a separate financial arm and spinning out technology-oriented businesses from the company’s PARC innovation centre.
“John was a visionary leader who navigated the company through unprecedented times and challenges,” said Xerox in a statement. “Well-known and respected throughout the industry, his strategy ensured Xerox’s leadership position in office and production print technology and expanded the company into helping solve secular challenges with innovative solutions. John was passionate about his workforce and an inclusive leader known for his ‘One Boat, One Team’ call to action and mentality.”
Xerox Chairman Jim Nelson commented: “Since joining the company in May 2018, John drove Xerox forward. As a champion for innovation, he embraced and enhanced Xerox’s legacy as a print and services provider and embarked on a transformative journey that broadened the company’s expertise and offerings to digital and IT services, financial services and disruptive technologies. John’s drive, energy and commitment to the business and its customers, partners and employees will be greatly missed.”
Steve Bandrowczak, who has been Xerox COO since 2018, will serve as interim CEO. He currently develops and executes the global operations strategy for Xerox, the company’s business support functions, including business strategy, product and service delivery and information technology, as well as the company’s newly formed Software and Innovation businesses.
“We are all greatly saddened by this tragic news and are keeping John’s family at the forefront of our thoughts in this difficult time,” said Bandrowczak. “His 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.”
Xerox added: “The Xerox family is profoundly saddened by this untimely event and extends its heartfelt condolences to John’s wife, his five daughters and his family.” These are sentiments shared by OPI.
Norwalk (CT), USA