Ashok Vemuri is the new CEO of Xerox BPO firm
The former Chief Executive Officer at IGATE Corporation, Ashok Vemuri has been appointed as the CEO of Xerox BPO firm, since Xerox has decided to separate into two independent, publicly-traded companies, the announcement of which was made in January 2016. Ashok will join Xerox on July 1, 2016 and serve as chief executive officer of Xerox Business Services, LLC and an executive vice president of Xerox Corporation until the separation is complete. After the completion of Xerox’s planned separation, Vemuri will serve as the chief executive officer and a director of the new BPO company.
“Ashok’s deep industry experience and proven track record of leading growth and corporate transformations will be instrumental for the BPO company’s future success,” said Xerox chairman and CEO Ursula Burns in a statement. “He’s an excellent leader with the right combination of operational, financial and client experience to successfully drive our BPO company’s go-forward strategy. I look forward to working with Ashok to successfully launch the new BPO company and build on its position as an industry leader,” she added.
“I’m excited to join Xerox at this stage of its new path forward. Xerox’s BPO business is already in several attractive markets and has an impressive client list that includes top global brands and vital government agencies. The standalone BPO company will have many new opportunities, leveraging its differentiated capabilities and executing a more focused value-creation strategy for the benefit of clients, employees and shareholders,” Vemuri said.
The St. Stephen’s and IIM-A alumnus, Vemuri has also been the President, Chief Executive Officer and a member of the board of directors of IGATE Corporation, now part of global technology and outsourcing company Capgemini. Before joining IGATE, Vemuri spent 14 years at Infosys in a variety of leadership and business development roles. Prior to joining Infosys in 1999, he worked in the investment banking industry at Deutsche Bank and Bank of America.
Vemuri is a member of the World Economic Forum IT Board of Governors. He won the Board of Enterprise Asia Outstanding Entrepreneur Award and IAIR Businessman of the Year award in 2015.
On January 29, 2016, Xerox announced its plans to separate into two independent, publicly-traded companies – a Document Technology company comprised of its Document Technology and Document Outsourcing businesses and a BPO company. Xerox is targeting to file its initial Form 10 registration statement with the US Securities and Exchange Commission in July. The transaction is on track to be completed by the end of 2016.
With approximately $7 billion in 2015 revenue – more than 90% of which is annuity based – the BPO company is focused on attractive growth markets including transportation, healthcare, commercial and government services.