Xerox CEO Anne Mulcahy to Retire; Ursula Burns Named Successor
Xerox Corp. yesterday announced that Anne Mulcahy, chairman and chief executive officer, will retire as CEO effective July 1. Ursula Burns, currently Xerox's president, has been named Mulcahy's successor as CEO by the company's board of directors. Mulcahy will retain her position as chairman of the board.
Mulcahy has been CEO since 2001 and chairman since 2002. She began her Xerox career as a sales representative in 1976 and has held senior management positions in sales, human resources and marketing during her 33-year tenure with the company.
"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, Jr., lead independent director of Xerox's board of directors. "She has consistently demonstrated values-based leadership, strong strategic insight, broad expertise and a remarkable ability to create 'followership' through the respect she earned from Xerox people. As important, Anne has focused intently on developing the next generation of leadership at Xerox, with Ursula Burns prepared to strengthen Xerox's industry-leading position in the marketplace."
Burns, 50, joined Xerox in 1980 as a mechanical engineering summer intern and later held roles in product development and planning. In April 2007, she was named president.
"… The decision to move on is made easy only in the fact that Ursula Burns is so well positioned to take Xerox to the next level," said Mulcahy. "Our strategy is sound and well-defined. And, despite a tough company, we are generating cash, building our technology and services pipeline and poised for a period of steady profitable growth in the future."