Following the announcement earlier this week that Ashok Vemuri would become chief executive officer of its yet-to-be-named business process outsourcing (BPO) spinoff, Xerox has in fact announced its name: Conduent.
“In the name, we wanted something that could evoke the company’s characteristics but still be flexible enough to evolve over time,” said John Kennedy, chief marketing officer at the Norwalk-based firm. “We wanted something easy to pronounce, but something original and with a bit of intrigue.”
The naming process for the BPO unit took three months. Meanwhile, the document technology company will continue to be called Xerox Corporation.
Xerox announced plans to split its legacy printer operations and its BPO units into two companies earlier this year. A chief for its printer business has yet to be named; current company chairman/CEO Ursula Burns will become chairman of that company when the transaction is completed by the end of this year.
After the split, Conduent will have roughly 96,000 employees worldwide and businesses that generated approximately $7 billion in revenue in 2015. The new Xerox company will have about 49,000 employees in an operation that generated some $11 billion in revenue last year.