As CivSource reported earlier this week, Xerox has made a few major updates to its separation plan. Back in January, the company announced that it would split its two primary businesses – document technology and business process outsourcing into two public companies. Both arms of the business provide services for government agencies at all levels. The company plans to re-align clients accordingly.
On Monday, we learned that Ashok Vemuri will become the chief executive officer of the Business Process Outsourcing (BPO) company after the separation is complete later this year. In the interim, Vemuri will be chief executive officer of Xerox Business Services, LLC and an executive vice president of Xerox Corporation.
Today, Xerox announced that the BPO company will be called “Conduent” and the Document Technology company will continue to be called Xerox Corporation.
“Conduent will begin its next chapter as a standalone company with a name that conveys the vital business we conduct every day,” said Ursula Burns, chairman and chief executive officer of Xerox. “Conduent is well-positioned to build on its strong heritage as a leader in business process services and will carry forward the values and culture of innovation, diversity and integrity from Xerox.”
With approximately $7 billion in 2015 revenue and 96,000 employees worldwide, Conduent will be a Fortune 500 scale business process services company with expertise in transaction-intensive processing, analytics and automation. The company is focused on growth markets including transportation, healthcare, commercial and government services.