Vicentin John (John Visentin)

Vicentin John (John Visentin)

Biography

2018: Appointment of Xerox as the CEO

At the beginning of May, 2018 the producer of systems for document flow of Xerox announced John Vicentin's appointment the new CEO of the company after resignation of several top managers. Dismissals are connected with pressure of the largest shareholders and foretell failure of the transaction on consolidation of Xerox with Fujifilm.

Xerox was left by the CEO Jeff Jacobson, the chairman of the board of directors Robert Kigan and five more board members.

Businessmen Karl Icahn and Darwin Dison who on number of stocks of Xerox take the first and third places respectively (together control more than 15%), expressed a protest against sale of Xerox of Fujifilm company for $6.1 billion earlier, having said that the transaction strongly underestimates the American vendor.

Darwin Dison filed a lawsuit against Xerox and said that Jeff Jacobson, pursuing own interests, signed the agreement with Fujifilm, despite the recommendations of Board of Directors to stop negotiations against the background of the preparing resignation of the head. As a result the court supported Dison and temporarily blocked merge of Fujifilm and Xerox. The companies resumed negotiations which continue by the beginning of May, 2018.

According to the message on the website of Xerox of May 1, John Vicentin becomes the new CEO and the vice-chairman of the board of directors of the company. The chairman of the board of directors selects Keith Kozza (before held a position of the chief executive officer of the Icahn Enterprises investment firm belonging to Icahn). Also the board of Xerox will include four more new persons, including Nicholas Gratiano, Scott Letye, Jay Fayrstoun and Rendalf Read.

After shifts in Board of Directors of the company the transaction between Xerox and Fujifilm appeared under the threat of failure as election of members happens with Icahn and Dison's direct participation.^[1]

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