Xerox Corp has selected Ashok Vemuri as the new chief executive of its BPO unit after the split of the company into two publicly traded entities.
Vemuri – who has previously worked at Infosys Ltd in various roles for 14 years – will join Xerox effective July 1. He will serve as CEO of Xerox Business Services, LLC and an executive VP of Xerox Corporation until the completion of the split.
Vemuri was the head of IT services provider IGATE Corp from September 2013 to October 2015, and in that role, he led transformation of company’s operations and strategy before executing the company’s highly-successful sale to Cap Gemini SA for $4 billion. At Infosys, Vemuri has served as a Board member, head of Americas and the global leader of Manufacturing and Engineering Services.
Xerox’s plans to split the legacy printer operations and BPO units into two companies were revealed earlier this year in January, when company announced that it is planning to split into two publicly-traded companies – a Document Technology company comprising of its Document Technology and Document Outsourcing businesses and a BPO company. The company is targeting to file its initial Form 10 registration statement with the U.S. Securities and Exchange Commission in July. The split is expected to be completed by the end of this year, and current CEO Ursula Burns will become chairman of the printer business (Document Technology company).
“Ashok’s deep industry experience and proven track record of leading growth and corporate transformations will be instrumental for the BPO company’s future success,” said Xerox chairman and CEO Ursula Burns.
“He’s an excellent leader with the right combination of operational, financial and client experience to successfully drive our BPO company’s go-forward strategy. I look forward to working with Ashok to successfully launch the new BPO company and build on its position as an industry leader,” Burns added.
“I’m excited to join Xerox at this stage of its new path forward,” Vemuri said.
“Xerox’s BPO business is already in several attractive markets and has an impressive client list that includes top global brands and vital government agencies. The standalone BPO company will have many new opportunities, leveraging its differentiated capabilities and executing a more focused value-creation strategy for the benefit of clients, employees and shareholders,” he added.
According to Xerox, the separation will create a $7 billion BPO company and an $11 billion document technology company with 40,000 employees.
However, the transition has forced Xerox to cut its workforce, and according to Burns, more layoffs will come in next few months.
“We have and will continue to eliminate jobs,” Burns said. “We do this to position the companies well.”
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