Tag Archives: John Visentin

#XeroxForum Key Visual AW

By Andreas Weber, Head of Value

Part 1: Xerox in convers(at)ion

No doubt: he was the (secret) star of the #XeroxForum 2019 in Portugal — without having to be present: John Visentin, since May 2018 Vice Chairman & CEO at Xerox Corporation. To reach this position was anything but smooth. As rarely before in the history of our industry was an open dramatic struggle between major shareholders and then CEO – Jeff Jacobson – kindled. Because Jacobson wanted to sell Xerox to Fujifilm. And failed miserably. The argument of the opponents: Xerox can create growth out of itself, if the traditional company completely renews itself.

Now, after exactly a year, the plan seems to work. For more than 30 years, as an analyst of Xerox, the company has always been at the top of my watchlist, with ups and downs and existential crises; but never before has a company of this size changed so brilliantly, so impressively, so quickly for the better.


Xerox Visual Motto

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The ‘phoenix from the ashes’ effect

John Visentin said briefly and briefly on his LinkedIn account months ago, “Today’s Xerox is transforming itself into a technology powerhouse, one that is leveraging its deep heritage in innovation to fuel the future of intelligent work. We are reinvigorating our brand by rewiring how we operate as a company. Our talented team is digitally-driven, focused on commercializing innovation, simplifying and optimizing operations to better serve customers and partners, with a heightened commitment to shareholder returns.“ And he keeps his word. And he presented and quantified frankly his new strategy, I call them “less is more”, in front of financial analysts in early February 2019.The key message: Xerox must accept that sales are initially declining, but it remains profitable in any case, from 2021 re-formed and to grow dynamic.

A series of ad hoc measures and changes in top position appearing to be effective because top talent is being brought in from the outside. For example: Steven Bandrowczak, President and Chief Operations Officer at Xerox Corporation, June 2018, said: “Xerox is undergoing a massive evolution from a printer-focused enterprise to one’s creating connected, IoT enabled device supporting digital workflows. This is not your grandfather’s Xerox-this company is investing in sensor technology and developing a software strategy. Although it continues to rely on its Palo Alto Research Center, a staple of the company since the 1970s. ”

Attentive readers of my ValueBlog know what is meant: AI – Artificial Intelligence is a new focus at PARC and at Xerox. It goes new, contemporary and forward-looking ways, as my interview with Elisabeth Rochman from October 2018 occupied.



Jeroen van Druenen, CEO Jubels print&more, Amsterdam, Xerox Partner Board Member and President of the XMPie Users Group, was listening carefully. 


High tension and maximum expectation: What will become of print?

In recent months, it has not always been easy to gauge how and if print or the Xerox definition of ‘graphic communications’ will play a central role. The #XeroxForum — hosted by Xerox to attract GC top customers from around the world, revealed that. Only working with Xerox for a few weeks, Terrence Clark used the opportunity for face-to-face meetings and clear statements. John Visentin personally hired him to create software at Xerox as a stand-alone business and, most importantly, as an important strategic pillar.


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Terrence Clark was impressed by the status of the subsidiary XMPie. Jacob Aizikowitz and his team were able to welcome him in Israel before the #XeroxForum and summarize on two days how the world of personalization and automation of multichannel solutions has evolved and how XMPie has become an ‘enabler’ for digital transformation in networked print media scenarios. “I come from the financial sector,” said Terrence Clark, “and can assure them that every industry, every business, must face the transformation in the Digital Age. This affects us as much as our customer.“ From his point of view, the conditions that Xerox can offer to create customer-specific, highly innovative, high-performance software solution offerings are outstanding. He also spoke with Xerox customers with interest and looked closely at Xerox partners such as geomarketing specialist LOCR, who briefed the #XeroxForum marketplace about their offer and how they can network with the specific Xerox solutions.


New focus was well received

The #XeroxForum 2019 followed my guideline “Less is more” with the motto: “What if we could print opportunies?”. The event was less crowded, but high-caliber, more focused, yet open and rich in the choice of topics and in the design of presentations and workshops. Courtney Harwood, Chief Marketing Officer at Xerox since August 2018, was responsible for the furious ‚Made to Think‘ brand re-launch. And reported in an inspiring way, as is not usual otherwise. ‘The Digital Illusionists’ Keenan Leyser and Matt Daniel-Baker showed for the first time a stage show that skillfully and intelligently ‘juggled’ digitization and transformation.


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James Duckenfiel, president of Xerox Premier Partner Group and CEO of Hobs Group / UK, introduced his extraordinary book ‘Spellbound: A grimoire of magical digital print ‘. Afterwards distributed to all participants a book as a gift. Bingo!



What else was important, I will describe in Part 2, which will soon go on air including an exclusive interview with Tracey Koziol and Hubert Soviche. Be curious.



Via Twitter Moments it is possible to view a first summary with short texts, pictures and videos.


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⚡️ “#XeroxForum 2019” von @ValueCommAG

ValueCheck Xerox.001

Von Andreas Weber, Head of Value

Es geht rund. Mit Turbo-Geschwindigkeit. Nach öffentlichen, harten Streitereien und Querelen mit den wichtigsten Aktionären muss bei Xerox Corp. der nach dem Split im Januar 2017 inthronisierte CEO Jeff Jacobson die Segel streichen und mit ihm ein halbes Dutzend Aufsichtsrats-Mitglieder. Ist das Unternehmen nun in einer schweren Krise? NEIN!

Prinzipiell ist Xerox grundsolide und finanziell gut aufgestellt. Was die Großaktionäre rund um Carl Icahn störte: Das hohe Potential von Xerox Corp. wurde nicht zielführend genutzt und Xerox sollte unter Wert seine Markenidentität und Eigenständigkeit aufgeben, indem es mit Fuji Xerox unter der Hoheit von Fijifilm verschmolzen wird. 

Fast zeitgleich mit der Meldung, dass Jeff Jacobson ausscheidet, wurden am 2. Mai 2018 von Bill Osbourn, Chief Financial Officer, Xerox, gute Ergebnisse für das 1. Quartal 2018 vermeldet und eine Print-Technologie-Neuheit weltweit präsentiert, die aufhorchen lässt: Metallic Dry Inks.


Ergänzende Meldungen vom 3. Mai bzw. 7. Mai 2018

Jeff Jacobson und die bisherigen Aufsichtsratsmitglieder sollen nun doch (vorläufig) im Amt bleiben. — Aprilscherz im Mai? Oder ist der Xerox-Konzern außer Kontrolle? “As a result, the current Board of Directors and management team will remain in place. Xerox and its Board of Directors recognize the uncertainty caused by the developments of the past several days among the company’s investors and other stakeholders. The Xerox Board and management team remain focused on driving continued improvement in financial and operational performance, and will consider all options to create value for the company and its shareholders.“ Source:

Aktionäre gegen Vorstand/Aufsichtsrat — Wenn zwei sich (um #Xerox) streiten, freut sich der Dritte? — „Vor allem bei #Fujifilm dürfte man sich über die neueste Entwicklung die Hände reiben. Schließlich hatten die Japaner direkt nach dem Urteil angekündigt, dagegen vorzugehen und die getroffene Vereinbarung vor Gericht anfechten zu wollen.“ Quelle: Jacobson gegen Icahn — Neue Runde im Streit um Xerox-Verkauf an Fujifilm, via


Weitere Meldungen vom 13. Mai und 18. Mai 2018

Xerox verlautbarte am 13. Mai 2018, dass es doch beim Wechsel an der Konzernspitze bleibt. Jeff Jacobson tritt endgültig ab. Ebenso fünf Ausichtsratsmitglieder. Zugleich wurde bekanntgegeben, dass der Deal mit Fujifilm vom Tisch ist und die Transaktionsvereinbarung vom Januar 2018 beendet wurde. 

Wie Bloomberg am 18. Mai 2018 verlautbarte, äußerte sich der Fujifilm-CEO, dass er juristisch gegen Xerox vorgehen werde, um den Deal doch noch zu realisieren: “Sukeno said he wants to explain to Xerox shareholders that the merger with Fujifilm is the only option for the American company to grow and have a future. A combined entity would be more efficient, he said.”

Großaktionär Darwin Deason gab in diesem Kontext eines seiner wenigen TV-Interviews, das sich lohnt anzuschauen. Er sagte unter anderem: “We have found a crown jewel in new Xerox CEO John Visentin.”

Juni 2018: Xerox verliert deutlich an Börsenwert!

Mit der Androhung einer Klage über 1 Milliarde US-Dollar setzt Fujifilm die Xerox Corp. heftig unter Druck. Seit Anfang Februar 2018 rutschte der Börsenkurs pro Aktie von rund 34 US-Dollar auf knapp über 27 US-Dollar ab. In den Finanzmedien wird dies argwöhnisch beobachtet: “Is Xerox (XRX) in Trouble for Terminating Fujifilm Deal?” (June 19, 2018)

Die Marktkapitalisierung sank damit um mehr fast 1,5 Milliarden US-Dollar. Es zeigt sich eine tiefe Kluft zur Durchschnittsentwicklung im Business Service Markt, die deutlich wächst.



Xerox will das Joint Venture mit Fuji Xerox nach 2021 nicht mehr weiterführen, wie der neue CEO John Visentin am 25. Juni 2018 erklärte. — “Visentin said Xerox does not currently plan to renew its technology agreement with Fuji Xerox when it expires in 2021. There is “enormous potential growth opportunity” in Xerox selling directly to the Asia-Pacific market with “sole and exclusive use of the Xerox name and a more efficient, better-managed supply chain than exists with Fuji Xerox,” Visentin said.”  [Quelle: Xerox CEO Visentin: Fuji lawsuit is ‘misguided negotiating ploy’ by Sarah Taddeo , Rochester Democrat and Chronicle, Published 6:19 p.m. UTC Jun 25, 2018].


Meine Einschätzung, da es definitiv bei einem neuen CEO bleibt: Exzellente Ausgangsposition für einen Neuanfang

Das Menetekel, der Fisch stinke vom Kopf her und vergifte alles, trifft m. E. bei Xerox nicht zu. Vielmehr bietet sich eine extrem gute Basis auf hohem Niveau. Der designierte neue CEO Giovanni (“John”) Visentin trifft auf ein Unternehmen, dass sich in den Strukturen verschlankt hat, Ballast abgeworfen hat und in allen Bereichen mit vielen motivierten und talentierten Mitarbeitern nach vorne preschen kann. Seine Ernennung wird im Branchenchargon als „Hot Landing“ bezeichnet, quasi wie im Militär beim Einsatz von Fallschirm-Pionieren.

John Visentin hat umfassende Erfahrung im Top-Management für innovative Informations-Technologie-Lösungsangebote. Und er kennt sich mit Übernahmen aus. Seine wichtigste Aufgabe dürfte sein, erfahrbar zu machen und nach aussen darzustellen, worin die eigentlichen Stärken von Xerox liegen. Eben nicht nur in Hardware und Boxen, sondern in intelligenten, multifunktionalen Software-Lösungen und -Architekturen, die Business Solutions ermöglichen, um die Kundenkommunikation ganzheitlich zu stärken und das „Customer first“ und vor allem „Communication First“ in den Fokus zu rücken. 

In Deutschland kann man das bereits in ersten Ansätzen nachverfolgen: Das Management rund um Jacqueline Fechner ist bestens aufgestellt. Mit Christian Gericke  ist seit November 2017 ein Innovations- und Transformations-erfahrener Top-Manager an Bord, der das Marketing und vor allem das professionelle Print-Geschäft für Xerox GmbH nach vorne bringen wird.

All dies wird in der Wirtschaftspresse positiv aufgenommen und kommentiert. Nachfolgend eine Selektion von Artikeln und Kommentaren:

Handelsblatt vom 2. Mai 2018:

Democrat & Chronicle:


Reuters berichtet von Kaufinteressenten:

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About the expected XEROX Vice Chairman and CEO John Visentin (Quelle: Xerox Corp.)

Giovanni (“John”) Visentin is expected to be the Vice Chairman and Chief Executive Officer of Xerox Corporation. Prior to being appointed to that role, Mr. Visentin was a Senior Advisor to the Chairman of Exela Technologies and an Operating Partner for Advent International, where he provided advice, analysis and assistance with respect to operational and strategic business matters in the due diligence and evaluation of investment opportunities. John was also a consultant to Icahn Capital in connection with a proxy contest at Xerox Corporation from March 2018 to April 2018. 

In October 2013, Mr. Visentin was named Executive Chairman and Chief Executive Officer of Novitex Enterprise Solutions following the acquisition of Pitney Bowes Management Services by funds affiliated with Apollo Global Management. In July 2017, Novitex closed on a business combination with SourceHOV, LLC and Quinpario Acquisition Corp. 2 to form Exela Technologies, becoming one of the largest global providers of transaction processing and enterprise information management solutions. Exela Technologies now trades on the NASDAQ under the ticker symbol XELA. 

Mr. Visentin was previously an Advisor with Apollo Global Management and contributed to their February 2015 acquisition of Presidio, the leading provider of professional and managed services for advanced IT solutions, where he was Chairman of the Board of Directors from February 2015 to November 2017. 

Mr. Visentin has managed multibillion dollar business units in the IT services industry (at each of Hewlett-Packard and IBM) and over the course of his career has a proven track record transforming complex operations to consistently drive profitable growth. Mr. Visentin graduated from Concordia University in Montreal, Canada, with a Bachelor of Commerce.

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