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Xerox CEO John Visentin dies unexpectedly after illness

Xerox boss John Visentin has died at age 59 after experiencing problems from an undisclosed “ongoing illness,” the company announced on Wednesday.

Xerox officers stated that Visentin, the company’s CEO and vice chairman, had “unexpectedly passed away.” Xerox COO Steve Bandrowczak will function interim CEO.

“We are all greatly saddened by this tragic news and are keeping his family at the forefront of our thoughts in this difficult time,” Bandrowczak stated in a press release. “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.”

Visentin grew to become CEO of Xerox in May 2018. His appointment as chief government and vice chairman stemmed from an settlement between Xerox’s board and activist investor Carl Icahn, who had opposed a plan to merge with Japan-based Fujifilm. Icahn stays Xerox’s largest shareholder.

Visentin led the company via a tumultuous interval during which demand for printing companies sagged through the COVID-19 pandemic. Xerox chairman James Nelson famous that Visentin had spearheaded a brand new give attention to “digital and IT services, financial services and disruptive technologies” in recent times.

Xerox
John Visentin died after experiencing problems from an illness.
Corbis through Getty Images

Under Visentin’s management, Xerox embarked on a $35 billion hostile takeover bid for Hewlett-Packard, however the company deserted its course because the pandemic weighed on its business. Icahn held giant stakes in each firms and had pushed for the deal to maneuver ahead.

Prior to his stint at Xerox, Visentin labored as an adviser at Apollo Global Management and as an government at HP and IBM, in line with his LinkedIn web page.

“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,” the company stated in a press release.

Xerox shares fell greater than 2% in early buying and selling Thursday throughout a broader downturn on the stock market. The company’s shares have declined greater than 35% to this point this year.

The Post has reached out to Xerox for additional touch upon Visentin’s illness.

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