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John Visentin, the chief government of Xerox who led the photocopying and expertise firm by a tumultuous pandemic at a time when demand for printed paperwork and ink waned, died on Tuesday. He was 59.
Mr. Visentin, who grew to become C.E.O. in Might 2018 and was additionally the vice chairman, died of “issues from an ongoing sickness,” the corporate mentioned in an announcement. A spokesman for Xerox didn’t share particulars about that sickness or say whether or not Mr. Visentin informed the corporate about it.
Steve Bandrowczak, the president and chief working officer at Xerox, will function its interim C.E.O., the corporate mentioned.
“John’s imaginative and prescient was clear, and the Xerox crew will proceed fulfilling it — not solely to ship on our commitments to our shareholders, prospects and companions, but in addition to pursue John’s legacy,” Mr. Bandrowczak mentioned in an announcement.
Earlier than occupying the highest place at Xerox, Mr. Visentin was steeped on this planet of expertise and enterprise: He labored as an adviser to the chairman at Exela Applied sciences, an automation firm, and was an working accomplice for Introduction Worldwide, a personal fairness agency.
After becoming a member of Xerox, Mr. Visentin sought to broaden the corporate’s choices. For years, Xerox had been often known as a hub for workplace expertise, particularly its xerographic copier, or Xerox machine — a ubiquitous, cumbersome product that commercialized the method of creating photographic copies onto paper.
Mr. Visentin turned extra consideration “to digital and I.T. providers, monetary providers and disruptive applied sciences,” James Nelson, the chairman of Xerox’s board of administrators, mentioned in an announcement.
Underneath Mr. Visentin’s helm, the corporate additionally tried to make inroads in 3-D printing.
His choice as C.E.O. in 2018 was preceded by Xerox’s calling off its merger cope with Fujifilm of Japan after reaching a settlement with a shareholder activist and one other main investor who sharply opposed the deal.
In November 2019, Xerox made a takeover supply to HP, a enterprise synonymous with printers, in an effort to mix the 2 corporations and minimize prices.
The merger was supported by Mr. Visentin, who appeared to consider that the trade wanted some form of consolidation with a view to appease shareholders involved in regards to the accelerating erosion of the standard printing enterprise.
The deal deteriorated after HP discovered that the cash-and-stock supply from Xerox undervalued the corporate. Later that month, it formally turned down the takeover supply, dealing a blow to Mr. Visentin’s enterprise plans.
A graduate of Concordia College in Montreal, Mr. Visentin started his profession at IBM, based on his LinkedIn profile. He labored there for greater than 20 years after which moved to HP. From 2013 to 2017, he was the chief government of Novitex Enterprise Options, his firm biography states.
Xerox described Mr. Visentin in its assertion as a pacesetter “who navigated the corporate by unprecedented occasions and challenges.”
He’s survived by his spouse and 5 daughters.
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Supply- nytimes