John Visentin, the Xerox chief executive who led the technology and photocopying company through a tumultuous pandemic at a time when demand for printed materials and ink was dwindling, died on Tuesday. He’s 59 years old.
Mr Visentin, who became CEO in May 2018 and also a vice president, has died from “complications of an ongoing illness”, the company said in a statement. statement. A Xerox spokesman did not share details about that illness or say whether Mr. Visentin had told the company about it.
Steve Bandrowczak, president and chief executive officer of Xerox, will serve as its interim CEO, the company said.
“John’s vision is clear and the Xerox team will continue to fulfill it – not only fulfilling our commitments to shareholders, customers and partners, but also pursuing John’s legacy,” said Bandrowczak. know in a statement.
Before taking the top job at Xerox, Mr. Visentin was involved in the worlds of technology and business: He served as an advisor to the president at Exela Technologies, an automation company, and was an executive 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 a hub for office technology, especially the xerographic copier or Xerox machine – a bulky, ubiquitous product that commercialized the creation process. Photocopy on paper.
Mr. Visentin turned more attention to “digital and IT services, financial services and disruptive technologies,” James Nelson, chairman of the board of directors of Xerox, said in a statement.
Under Mr. Visentin’s leadership, the company has also attempted to break into 3-D printing.
His selection as CEO in 2018 before Xerox’s cancel the merger contract with Fujifilm of Japan after reaching an agreement with a shareholder activist and another major investor, who vehemently opposed the deal.
In November 2019, Xerox made an offer to take over HP, a business synonymous with printers, in an attempt to combine the two companies and cut costs.
The merger was backed by Mr. Visentin, who seems to believe the industry needs some form of consolidation to assuage shareholders concerned about the growing erosion of the traditional printing business.
The deal went awry after HP discovered that the cash and stock offer from Xerox undervalued the company. Later that month, it officially rejected the takeover offerdealt a blow to Mr. Visentin’s business plans.
A graduate of Concordia University in Montreal, Mr. Visentin began his career at IBM LinkedIn File. He worked there for more than 20 years and then moved to HP. From 2013 to 2017, he was the CEO of Novitex Enterprise Solutions, company biography bio.
Xerox described Mr. Visentin in its statement as a leader “who has led the company through unprecedented times and challenges”.
He is survived by his wife and five daughters.
Jesus Jimenez contribution report.