Friday, June 22, 2012

Xerox Trying to Revitalize India Operations

Xerox recently hired a local to the top position at its Indian subsidiary, which broke an eight year trend of expat CEOs leading operations at the printer and copier juggernaut. In addition to that, the change made it clear that the $22.6 billion company's intent to kick-start growth and regain lost ground in India with an influx of hiring, an overhaul of the top management and a restructuring of the portfolio for a sharper focus is still on track.

Rajat Jain was named the Managing Director for Xerox in India back in February and was given a clear mandate to accelerate growth in the country. Local professionals have also replaced expats in four senior positions with only the finance function currently headed by an expat. It has also been noted that nearly 100 professionals have been hired to spur new creativity.

Xerox's urgency is definitely noticeable due to the fact that the company is currently developing India-specific products to enter newer segments, like consumers and small businesses. Xerox India also wants to focus on services, which have become a large revenue generator for its parent company. This renewed growth mindset has come as competitors like Canon, HP, Epson and Ricoh have been gaining ground over the years in key markets like A4 multifunction printers and A3 copier multifunction printers. Canon also grabbed Xerox's leadership position in the Indian copier market five years ago.

Xerox jumped into the India market back in 1983 as Modi Xerox. Back then, the company was a joint venture with ModiCorp, which is now the Spice Group. In 2002 the company got wrapped up in a nasty bribery scandal as well as corporate governance issues. Since then, Xerox has increased its stake in the joint venture while ModiCorp has moved on. 

According to Jain, who joined Xerox India from Mobile2win India and was formerly MD of Walt Disney India, "The fresh appointment of so many senior professionals shows the parent's recommitment and faith in the Indian operations." 

Source: The Economic Times - Xerox Corp hires 100 key professionals to kickstart growth
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