Chief Executive Officer John Visentin, 59, passed away on Wednesday as a result of the consequences of a long-term illness, according to printer manufacturer Xerox Holdings.
Steve Bandrowczak, president and chief operating officer, has been chosen interim CEO by Xerox, which described Visentin’s passing as sudden.
Visentin, who was also vice-chairman, accepted Carl Icahn’s nomination to become Xerox’s CEO in May 2018. According to Refinitiv statistics, the activist investor’s company is the corporation’s largest shareholder.
Prior to then, Icahn had employed Visentin as a consultant to help in his campaign against Xerox, during which time he encouraged the corporation to consider strategic alternatives.
Visentin was also in charge of the business when it attempted to acquire HP for $35 billion in a hostile bid, a merger that Icahn had pushed for in 2020.
The same year, Xerox unveiled a three-year cost-cutting plan under Visentin in response to a downturn in demand brought on by businesses’ decreased printing of documents.
John Visentin Xerox Illness
Although the Xerox company stated that John Visentin had an ongoing illness, they withheld further information about it.
