Conduent Names Lokesh Prasad India CEO

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Business process services provider Conduent, a company originally created as a divesiture from Xerox, has named Lokesh Prasad as Chief Executive Officer of Conduent India.

Conduent said Prasad will be responsible for further developing the US$6.5 billion company’s presence in India.

In a statement, CEO Ashok Vemuris aid Prasad’s background will help Conduent India push the envelope of tech-led business services and expand its already impressive workforce.

Prasad, who will be based in Gurgaon, is also tasked to growth the 10,000-employee workforce of the company in India.

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He previously served as Head of Emerging Markets for UnitedHealth Group in Gurgaon, India, and was responsible for managing profit and loss (P&L) for India and the Middle East.

He was instrumental in creating a global sourcing and delivery strategy for UnitedHealth Group, and setting up their IT and BPO business in the US and Asia.

In January, Xerox Corporation completed the separation of Conduent Incorporated, its BPO business.

Xerox CEO Jeff Jacobson said the successful completion of the separation sharpens the company’s market focus and commitment to its customers.

In connection with the spin-off, Xerox received a cash transfer from Conduent of US$1.8 billion, which it intends to use, along with cash on hand, to retire approximately US$2 billion in debt.

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The BPO company is set to be a Fortune 500 scale business process services company, with approximately US$7 billion in 2015 revenue and 93,000 employees worldwide, including in the Philippines. – BusinessNewsAsia.com

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