Lexmark is a world leader in innovative imaging, output technology solutions, and managed print services. The brand combines advanced imaging technology, industry expertise, and customer engagement to deliver tailored solutions across diverse sectors such as retail, financial services, healthcare, manufacturing, education, and government. With a distribution network spanning 170 countries, Lexmark continues to push the boundaries of innovation and service excellence.
Establishing Lexmark Cebu
Founded in 2001, Lexmark Research and Development Corporation (Lexmark Cebu) serves as the company’s research and development (R&D) hub and shared services operations center for the Asia Pacific region. In May 2018, Lexmark’s corporate realignment led to the consolidation of shared service centers in Cebu and Budapest, forming the Global Business Services (GBS) division. Lexmark’s Cebu Competence Center (CCC) was created to oversee process requests and global end-to-end operations, driving efficiency and streamlining operations. This transformation earned Lexmark a Silver Award for Best Shared Services Team in Asia at the SSON Asia Impact Awards in 2019.
The Leadership of Elena Palacios
Under the leadership of Elena Palacios, Lexmark Cebu successfully transitioned from a traditional shared services model to a high-performing Global Business Service organization. Palacios holds a double Master’s degree in Analytical Chemistry from the University of Cincinnati and Business Administration from the Instituto de Estudios Superiores de Administración in Caracas, Venezuela.
A strong advocate for employee development, Palacios spearheaded the Employee Development Series at CCC, fostering professional and personal growth among employees. This initiative resulted in an impressive staff retention rate, with attrition rates dropping to 11.94% in 2019, and an even lower 9.18% for the R&D division—well below the industry standard of 18-21%.
Driving Innovation and Efficiency
Lexmark CCC is committed to continuous improvement and innovation. Through the 2019 Eureka Awards, a company-wide initiative recognizing efficiency projects, CCC successfully closed 162 projects, generating cost savings of nearly US$224,900.
Beyond internal initiatives, CCC actively collaborates with Cebu City’s ICT sector and various Chambers of Commerce to enhance local technological development. By engaging in linkage programs, Lexmark contributes to equipping the local workforce with the necessary skills to support the growing information and communication technology industry.
Navigating Challenges with Resilience
Palacios has faced numerous challenges over the past four years, including Lexmark’s rebranding efforts, strategic restructuring, CEO transitions, and corporate resizing. Through it all, she has remained steadfast, maintaining a ‘business as usual’ mindset while steering the company toward growth.
Her transition from research and development to industrial engineering has played a crucial role in shaping her adaptability and leadership approach. Her ability to master multiple disciplines enables her to respond swiftly to emerging challenges and opportunities, strengthening Lexmark’s competitive edge.
Championing Women in Leadership
In a business landscape that remains predominantly male-dominated, Palacios sees female leadership as an opportunity rather than a challenge. She emphasizes the strengths of participative leadership, diversity, and inclusion, believing that when employees feel comfortable being themselves at work, they become more productive.
She firmly upholds that good leadership in the 21st century is about fostering equality, building relationships, and taking calculated risks. Her leadership is reflected in CCC’s outstanding employee satisfaction, with an impressive 85% of management positions being filled internally—further testament to the trust and growth opportunities provided under her leadership.
A Legacy of Excellence
Elena Palacios’ leadership at Lexmark CCC demonstrates the power of vision, adaptability, and inclusive leadership. By prioritizing employee development, operational efficiency, and innovation, she continues to leave a lasting impact on Lexmark’s global business operations while setting a benchmark for female leaders in the industry.
