Xerox unveils organizational changes to support three new businesses

Xerox Holdings Corp. has announced plans to create three businesses focused on software, financing and innovation.

Xerox Vice Chairman and CEO John Visentin stated the strategy would increase “the breadth of our offerings to better reach new and existing clients and drive organic growth.” The company did not provide specific details on the individual pursuits of the new businesses or whether they would be based out of the Norwalk headquarters.

“Our plan to stand up three separate businesses by 2022 will provide greater focus, flexibility and visibility as we position Xerox for the future,” Visentin said.

He announced the leaders of the new businesses. Nicole Torraco has been promoted to senior vice president of Xerox Financial Services from chief strategy and M&A officer; Sam Waicberg will lead the software business as vice president and general manager of digital services ”“ he recently joined the company with the recent acquisition of CareAR, where he was co-founder and CEO; and Naresh Shanker, senior vice president and chief technology officer, will lead the innovation business.

Xerox also announced Executive Vice President Louie Pastor has been appointed chief corporate development officer and chief legal officer. In addition to overseeing Xerox”™s legal organization, he will also be at the helm of a new corporate development group responsible for sourcing, evaluating, and executing merger and acquisition opportunities and venture investments.