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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: https://www.news.xerox.com/news/Xerox-settlement-agreement-with-Carl-Icahn-and-Darwin-Deason-has-expired

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 crn.de.

 

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.

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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: http://amp.handelsblatt.com/unternehmen/it-medien/druck-von-investoren-xerox-chef-tritt-zurueck-verkauf-an-fujifilm-kommt-auf-den-pruefstand/21233180.html

Democrat & Chronicle: https://amp.democratandchronicle.com/amp/572294002

Forbes: https://www.forbes.com/sites/georgebradt/2018/05/02/executive-onboarding-note-how-xeroxs-new-ceo-john-visentin-can-survive-his-hot-landing/#b22cd0c5ddea

Reuters berichtet von Kaufinteressenten: https://www.reuters.com/article/us-xerox-m-a-apolloglobal/exclusive-apollo-global-approaches-xerox-about-possible-acquisition-sources-idUSKBN1I32CF


Visentin 636608497289141868-JV-Headshot-Final-Cropped

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.


Value Communication Key Visual 2

 

Why it is worth to read this Blog post:

  1. Reading time: Less than 8 minutes — Half-Life Period: For-ever!
  2. Get immediately how to benefit from Value Innovation by Value Communication
  3. Learn how to connect Innovation to Profit!

 

Prologue

Steve Jobs had pulled the emergency brake in time, as he pointed out in October 2010 in his legendary e-mail newsletter on the risk of an innovation dilemma, which then perform, if one is successful, and may rest on his laurels! Action saw Jobs at Apple’s high-speed growth period especially in the product and in the communications innovation that the “digital lifestyle” was oriented. Reminder: Jobs had his position as iCEO associated with being an extremely charismatic Chief Communication & Innovation Officer (CCIO), which controls all processes in the company. He initiated the innovation management; and he was able to operate professionally all Apple products by himself to explain the benefits perfectly. So Jobs had established itself in a unique way, the principle of Value Communication.

 

Part 1

“Value Innovation needs Value Communication“

What you need to know and to understand regarding „Value Innovation“ is published in the blog post “The greatest enemy is your own success!”.

Starting point is that the strategic principles of “Value Innovation” are driven by “Value Communication“: Because valuable communication scenarios can be brought to life. True to the motto: “Communication = Art!”

 

Value Communication includes:

— the communication of the values ​​of a company’s products and services;

— the sustainable interaction with the stakeholders;

— to create systems that combine communication and transaction homogeneous (on-the-fly).

 

Stakeholders have to be defined company-specific: It could be employees, suppliers, partners, shareholders, the media brotherhood and above all the customers and their networks, and social environments.

Critical for success seems that Value Communication is focus on the benefits — in an easy to understand mode — to represent and to address the needs of all stakeholders properly. And in a way that communication and transaction are merged homogeneous and directly as possible. Traditional advertising and marketing models by agencies and the media companies are not necessarily part of a Value Communication architecture; and if they do, as action enhancer, it works if profound innovation capability is provided with the communication service providers.

 

The key figure in the company: The „CCIO“
(Chief Communication & Innovation Officer)

Value Communication scenarios live on smarter communication architecture work. What is needed, are not brilliant (and expensive) creative heads for attention/awareness campaigns, acting like a movie Director, nor simple minded budget managers working as cost calculators (reporting to controllers).

The CCIO requires intuition, instinctive intelligence, empathy and vision to anticipate and manage relevant developments in the market. The CCIO’s work is analytically and systemically. Valuable effects by Value Communication are caused by consistency and sustainability, and through hard discipline. Crucial is the fact that organizational is changed. Ideally, a company made ​​up of two units:

  1. The Business Operation Management Unit, including Marketing / Sales Promotion, Sales, Services and Finances.
  2. The Communication & Innovation Management Unit, which also includes research and development. Main job will always be a dialogue developed with customers and partners in the field of all innovation projects.

The focus of the CCIO is on four areas:

  1. Present
  2. Medialise
  3. Interact
  4. Innovate

A fundamental additional task of the CCIO is as well to develop the skills of employees and partners in all sectors to become “entrepreneurs within the company”.

 

 

The Big 5-C Bild.001

 

Part 2

 

“Triple-C transformed to the Big 5-C“

In this context, it is apparent that the current model which has been established in marketing, the Triple-C, is no longer sufficient in the Value Innovation era. Triple-C stands for “Content — Channel — Customer”. And it is classified under “operational innovation” to increase individual sales and revenues. Has proven Triple-C to date, especially in direct marketing, which has received through social media mechanisms upswing.

 

Value Innovation based on the “The Big 5 -C” principle:

Content — Embassies and storytelling around the Performance Promise

Connectivity — for inter-media transfer of knowledge and digital literacy

Consumer (and Brands) — as a focal point around which entwines everything

Community — using the Human-to-human principle

Creativity — as a creative force of the New World

Creativity is regarded as an engine of innovation, which includes a deep understanding of technology use, as well as open source surf.

 

Meaning, purpose and benefits of Value Communication as a driver and implementer of the Value Innovation Strategy develops rapidly and logical. Especially when you consider that all companies that have successfully accomplished the digital transformation, or those who laid the basis of beginning business model innovation as a strategy to grow profitably faster than everyone else. Not without reason achieve companies like Google or Apple more per capita profit as “classics” such as Axel Springer or Volkswagen or Otto Group, or even Hewlett-Packard per capita revenue realized. These classics have so far failed to operate Value Innovation and Value Communication. They failed because they don’t innovate on a strategic level!

Last but not least: The motto of CCIO as the architect of Value Communication is always:
Connect Innovation to Profit.

 

My Recommendation:

It is clear that the widespread, reduced-looking way of thinking, “I’m interested in only how to get from A to B quickly”, in the medium and long term affects more harmful than beneficial. The best way to open up the functioning and effectiveness of the Value Communication principle in conjunction with Value Innovation in Value Academy Workshops and / or Value CEO Briefings. This includes Value Audits using the Value Check, an innovative strategy methodology that evaluates the communication capability of a company.

 

For further details get in contact with Andreas Weber, a leading analyst and innovation expert at your disposal.

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