Xerox Chairman to Step Down as CEO

May 21, 2009
Company president will replace Mulcahy on July 1.

Xerox Corp. announced Thursday that chairman Anne Mulcahy, widely credited with putting the document management company back on solid ground, will step down as chief executive on July 1. Mulcahy, 56, will be replaced as CEO by current Xerox president Ursula Burns, Xerox announced at its annual shareholders meeting in Connecticut. "There is no doubt in my mind that she's the right person and it's the right time for her to become the seventh CEO of Xerox," Mulcahy said of Burns. Mulcahy, who joined Xerox in 1976 as a sales representative, will remain chairman of the board. She took over as chief executive in August 2001 and as chairman in January 2002. Burns has worked for Xerox since 1980, heading the office color and fax business and office network printing business. She was named a senior vice president in 2000 in charge of manufacturing and supply chain operations. She was named president in April 2007. Xerox, in a statement, noted that Mulcahy had completely overhauled the company's product line during her tenure, launching more than 80 products in the last three years. "As CEO, Anne successfully led a multibillion-dollar turnaround of Xerox and transformed the business into an innovative digital technology and services enterprise," said N.J. Nicholas, lead independent director of Xerox's board. Last year, however, was a difficult one for the company with its net profit falling by 80%. Revenue fell 18% in the latest quarter but Xerox still managed to turn a profit. Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!