Xerox CEO John Vicent, who headed the copying and technology company in a stormy pandemic, died on Tuesday at a time when demand for printed documents and ink was declining. He was 59 years old.
Mr. In May 2018, Vicente, who was CEO and also vice chairman, died of “complications from an ongoing illness.” statement. A spokesman for Xerox did not share details about the disease or whether Prof. Vicente informed the company about it.
According to the company, Steve Bandrovchak, President and Chief Operating Officer of Xerox, will act as its interim CEO.
“John’s vision was clear and the Xerox team will continue to do so – not only to fulfill our obligations to our shareholders, customers and partners, but also to continue John’s legacy,” he said. Bandrovchak said in a statement.
Before taking a high position in Xerox, Mr. Vicente was immersed in the world of technology and business: he worked as an advisor to the chairman of the automation company Exela Technologies and was an operating partner of the private equity firm Advent International.
After joining Xerox, Mr. Vicente tried to expand the company’s offerings. For years, Xerox office technology, especially its xerographic copier or Xerox machine, has been recognized as a ubiquitous, bulky product that commercializes the process of making photocopies on paper.
Mr. James Nelson, chairman of Xerox’s board of directors, said Vicente was more focused on “digital and IT services, financial services and disruptive technology.”
Under Mr. At the helm of Vicente, the company tried to stand out in 3-D printing.
He was chosen by Xerox before being elected CEO in 2018 Canceled the merger agreement with Fujifilm Japan after reaching an agreement with a shareholder activist and another major investor who strongly opposed the deal.
In November 2019, Xerox offered to acquire HP, a synonym for printers, to merge the two companies and reduce costs.
The merger was supported by Mr. Vicente believes the industry needs some kind of consolidation to reassure shareholders who are worried about the accelerated wear and tear of the traditional printing business.
The deal deteriorated after HP discovered that Xerox’s cash and stock offer was underestimating the company. At the end of that month officially rejected the offer to buy, strikes gentlemen. Vicente’s business plans.
A graduate of Concordia University in Montreal, Mr. According to him, Vicente began his career at IBM LinkedIn profile. He worked there for more than 20 years and then switched to HP. From 2013 to 2017, he was the CEO of Novitex Enterprise Solutions. The biography of the company is displayed.
Xerox described the gentlemen. Vicente, as a leader who “manages the company with unprecedented times and challenges,” said in a statement.
He is survived by his wife and five daughters.
Jesus Ximenez contributed to the report.