Xerox Corp. in preparation for its IPO of its service business later in the year, has appointed Ashok Vemuri as the chief executive officer. The business process outsourcing company will deal with HR, customer service and accounting. The parent company will continue its printing operations. Ashok Vemuri will join the company on July 1 as the CEO of Xerox Business Service and executive vice president of Xerox Corp. Xerox chairman and CEO Ursula Burns highlighted Vemuri’s industry experience as key factors that will help him lead the new company.
Vemuri was CEO of IGATE Corp from 2013 – 2015, during which time he grew the company and saw its successful sale to Capgemini. Before then, he was a senior executive at Infosys, a member of the board, its head of Americas and global leader of Manufacturing and Engineering Services.
The Business Process Outsourcing (BPO) company will help businesses and governments handle large-scale transaction intensive processes. The company had a revenue of $7 billion in 2015. The final filing with the U.S. Securities and Exchange Commission for the IPO will be submitted soon after Vemuri’s arrival.