Days after announcing Ashok Vemuri is to become CEO of Conduent, which is the new name of the soon-to-be-formed Xerox Business Process Outsourcing company, following the previously announced corporate split, Jeff Jacobson is to become CEO of Xerox Corporation following completion of the separation.
It was previously known that the new Xerox Document Technology company, as opposed to the Business Process Outsourcing company, would retain the current Xerox brand and profile. On January 29, 2016, Xerox announced its plans to separate into two independent, publicly traded companies and the company is on track to complete the separation by the end of 2016.
Jacobson currently serves as President of Xerox Technology and will continue in his current role until the separation is complete. “During his four years at Xerox, Jeff has driven significant productivity and cost efficiency efforts while maintaining our commitment to innovation, quality and leading technology,” said Ursula Burns, current CEO and Chair of Xerox. “With his previous public-company CEO experience and his track record and achievements at Xerox, the Board and I are confident he is the best person to lead Xerox forward.”
Jacobson joined Xerox in 2012 as President of Global Graphic Communications Operations. He became President of the Xerox Technology business in 2014 with responsibility for worldwide strategy, sales channel operations, marketing, technical services and customer support, product development, manufacturing and distribution. Prior to Xerox, he served as the President, CEO and Chairman of Presstek.
“I am honored by the board’s decision to appoint me to lead one of the world’s most iconic companies and confident that we will build a bright future for Xerox on the foundation of disciplined management, operational excellence and customer focus that is in place today,” said Jacobson.
The new Xerox entity accounted for US$11 billion in 2015 revenue, while Conduent would have generated US$7 billion – 90% of which is annuity based.
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