Florham Park-based Conduent Inc., a digital interactions company, said on Wednesday its CEO Ashok Vemuri will step down from his role.
Vemuri will also be stepping down as a member of the board.
To ensure a smooth transition, Vemuri will continue in his role as CEO and member of the board until a successor is named, which the board said it expects to happen during the third quarter of this year.
“Ashok has played an important role in helping transform Conduent’s business in the time since the company’s inception and has positioned the Company for long-term profitable growth. Under his leadership, the company has implemented a comprehensive cost-reduction program and is continuing to make key investments in technology and products as it pivots to growth. We thank Ashok for his contributions and appreciate his assistance in helping achieve a smooth transition,” William Parrett, chairman of the board, said.
Prior to Conduent, Vemuri served as CEO of Xerox Business Services.
“We are focused on identifying a leader with the expertise and capabilities to leverage Conduent’s unique strengths to enable the company to achieve its next level of growth. Through our search process, we will focus on identifying a leader who shares our vision for the power of digital interactions, can accelerate the pace of our progress and deliver enhanced shareholder value,” Parrett said.