On Wednesday, the Florham Park-based digital platform and service company announced Chief Executive Officer Ashok Vemuri will step down from his post and as a member of the board of directors.
Vemuri will stay in the role until a successor is appointed. The company said its board expects to make a decision as to who will fill the role during the third quarter of 2019. The search, considering both internal and external candidates, is being led by a special committee of the board, and Conduent said that an executive search firm has also been retained to assist.
“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,” said William Parrett, chairman of the board. “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.”
In a prepared statement, Parrett praised Vemuri’s contributions to Conduent, highlighting the role he has played in transforming the business over time.
“We have made enormous progress – standing up a public company, driving a significant transformation program in a relatively short period of time, laying the foundation to become a digital interactions company and resolving the legacy issues we inherited,” Vemuri said in a press release.
“As Conduent enters its next phase and continues the pivot to growth, this is the right time to begin the transition to the next CEO. I look forward to continuing to work with my colleagues on the board and the management team during this transition period to ensure the succession process is seamless,” he added.