Please join the ABQid Board of Directors and team in welcoming John McDermott as a new member to our board. John McDermott is managing principal of McDermott Advisory Services and engages as both an advisor and investor in information technology start-ups and growth phase companies. His current investment and advisory work is focused in Enterprise Software, Cyber Security and information technology intensive Business Process Services.
In addition to his work in the private sector, John currently chairs the New Mexico Finance Authority, the state’s vehicle for delivering low cost financing to New Mexico communities. With assets of more than $2B and AAA credit rating, the NMFA is viewed as a key resource in state economic development.
John had a ten-year career with Xerox Corporate from 2002 to 2012; a period during which the company executed a dramatic turn around and fundamentally repositioned its business portfolio and strategic position through the $6B acquisition of business process services provider ACS. As Xerox’s Chief Strategy Officer and head of Corporate Development. John led corporate strategy, acquisitions and divestitures, and a number of corporate transformation activities, including serving as Xerox’s Chief Information Officer for more than 4 years. In addition to his other roles John also managed Xerox’s strategy and investment in the Fuji Xerox Company, Xerox’s $10B joint venture in Asia Pacific with Fuji Film. During this time, John was a board member of Fuji Xerox, Ltd and of Palo Alto Research Center (PARC).
Prior to joining Xerox, John spent nearly 15 years at Marakon Associates, an international management-consulting firm, where he was a partner and led the technology industry practice. He provided Fortune 500 clients in North America, Europe and Asia with support on business strategy, operations improvement and organizational design, primarily in the technology and telecommunications industries.
During this period, John became deeply involved in the business turnaround at IBM and joined IBM for a period of nearly 4 years as part of the corporate strategy team. John was involved in a variety of initiatives including the spin-off of Lexmark, the sale of the Disk Storage Division and the refocusing of IBM strategy on Services and Software.
In addition to his familiarity with computer hardware and xerographic printing, John has also served clients in Networking Technology, Telecommunications and Enterprise Software industries. His geographic exposure includes five years in London serving European clients and extensive work in Japan and Singapore.
Before earning his MBA, John began his career as an entrepreneur, building several small, successful companies. He is a graduate of the Yale University School of Management and continues to be regularly involved with the school.