Xerox decides on new CEO
Thursday, August 4, 2022
Xerox’s interim CEO Steven Bandrowczak has been appointed to the role on a permanent basis.
Bandrowczak stepped up after the sudden death of John Visentin in June.
Xerox chairman James Nelson said the $7.04bn (£5.82bn) turnover group’s board had “full confidence” that Bandrowczak was the right leader to take the business forward.
"Steve has a proven track record of delivering results by leveraging digital platforms to drive market share and increase profitability,” Nelson said.
“He also has continually stepped up when Xerox needed him most and demonstrated his ability to lead with passion and empathy.”
Bandrowczak joined Xerox four years ago as president and chief operations officer.
During 2019 he also spent eight months on the board of then-joint venture, Fuji Xerox.
His responsibilities included developing and executing a global operations strategy for Xerox’s Software and Innovation businesses, as well as its business support functions, including business strategy, product and service delivery, customer billing, and IT.
He gained wide experience in senior roles at large businesses prior to joining Xerox including managing global supply chains, product development, IT strategy and operations.
He also spent more than four years working at HP – which Xerox attempted to acquire via a hostile takeover bid prior to the pandemic – as senior vice president for global business service and BPO.
In that role he “transformed” its 16,000-employee shared service organisation into a “highly efficient operation with a focus on automation, business intelligence and labour optimisation”.
After leaving HP in 2016 he worked at Sutherland Global Services and then Alight Solutions, where he was COO and CIO.
Bandrowczak commented: “I am humbled by the board’s decision to appoint me as chief executive officer.
“I see great potential for our company, and I’m honoured to work alongside all of my Xerox colleagues as we build momentum toward the future.”
At the end of last month Xerox also appointed Philip Giordano, founder and chief investment officer of Livello Capital Management to its board, which restored the number of board members to eight.
Xerox’s share price has risen from $13.78 to $17.46 since the middle of last month (52-week high: $24.32, low: $13.32).