Xerox Names CEO of Business Services Company
15 June 2016 - 12:20AM
Dow Jones News
Xerox Corp. on Tuesday said Ashok Vemuri will lead its business
services company after the technology giant splits itself in two
later this year.
Mr. Vemuri, 48 years old, will join Xerox July 1 as chief
executive of Xerox Business Services LLC and an executive vice
president of Xerox until the separation.
Xerox in January announced plans to break itself into two
companies and give three board seats to activist investor Carl
Icahn, reversing an effort by the century-old company to marry
business services with its copiers and printers. Xerox will divide
into separate publicly traded companies: one containing its
document management businesses and another housing its services
operations.
The business services division will include representatives of
Mr. Icahn on its board.
Mr. Vemuri was CEO of iGate Corp. from September 2013 to October
2015, where he completed a strategic sale of the company to French
computer services and consulting company Capgemini. Previously, he
was a senior executive and board member at Infosys, heading global
manufacturing and engineering services.
Last month, Xerox said CEO Ursula Burns, who has run the company
since 2009, will give up that title after the split and become
chairman of the legacy hardware business. Ms. Burns, 57, has spent
her entire career at the document company, working her way up from
an internship in 1980 to become the first black woman to lead a
Fortune 500 company.
The split is on track to be completed by the end of the
year.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
June 14, 2016 10:05 ET (14:05 GMT)
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