Steve’s breakdown: Xerox officials announced today that after completing its split, the new business process outsourcing company will be named “Conduent.” Ashok Vemuri will be the CEO, the main number is 214-841-6111
Time to get the word out!!
The document technology company will continue to be called Xerox Corporation.
DALLAS, TX: In a statement, Xerox officials said the name reflects the new company’s expertise in connecting clients and their constituents through seamless transactions at a massive scale.
“In the name, we wanted something that could evoke the company’s characteristics but still be flexible enough to evolve over time,” said chief marketing officer John Kennedy. “We wanted something easy to pronounce, but something original and with a bit of intrigue.”
In a blog post, Kennedy said they explored nearly 6,000 options before landing on their final choice. The process took approximately three months,
“Conduent will begin its next chapter as a standalone company with a name that conveys the vital business we conduct every day,” said Xerox CEO Ursula Burns. “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.”
After the split, Conduent will have approximately 96,000 employees worldwide and businesses that generated roughly $7 billion in revenue in 2015. The new Xerox company will have approximately 49,000 employees in an operation that generated $11 billion in revenue in 2015.
“Building on its deep understanding of how the world works, communicates and shares content, the new Xerox will continue to help clients improve their workflow, productivity, and business performance, no matter where they are on their digital journey,” said Burns.
In January, Xerox announced its plan to separate into two independent, publicly-traded companies: a business process outsourcing company and a document technology company. Company officials say they expect to complete the separation by the end of 2016.
Earlier this week, Xerox announced that Ashok Vemuri will become chief executive officer of the business process outsourcing arm of Xerox. Xerox CEO Ursula Burns will stay through the split with another search underway for the document technology portion.