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Ursula Burns Succeeds Anne Mulcahy as CEO Of Xerox Corp.

3 Jun, 2009

Ursula Burns Succeeds Anne Mulcahy as CEO Of Xerox Corp.

Norwalk, CT (June 2009) - Xerox Corporation's Anne Mulcahy, chairman and chief executive officer of Xerox, and instrumental in helping Xerox overcome many difficulties in the 1990s, will retire as CEO effective July 1, 2009. Current Xerox President Ursula Burns will succeed Ms. Mulcahy, who will remain as chairman of Xerox's board of directors.

Xerox notes that this is the first time a female chief executive has replaced another female chief executive at a Fortune 500 company. Moreover, Ms. Burns is the first African-American woman to run a company this large. Ms. Mulcahy began her Xerox career as a sales representative in Boston in 1976. Throughout her 33-year service with Xerox, she has held senior-management positions in sales, human resources and marketing, and has led the Xerox business division that sells products for reseller and dealer channels. During her tenure as CEO at Xerox, Mulcahy helped strengthen the company's product line, completely overhauling much of it, and in the last three years alone, overseeing the launch of more than 80 new products.

Ms. Burns joined Xerox in 1980 as a mechanical-engineering summer intern, later taking on roles in product development and planning. From 1992 through 2000, she led several business teams, including the office color and fax business, as well as office network-printing business. In 2000, she was named senior vice president for Corporate Strategic Services, heading up manufacturing and supply-chain operations. She then took on the broader role of leading Xerox's global research, as well as product development, marketing and delivery. In April 2007, Burns was named president of Xerox, expanding her leadership to also include the company's IT organization, corporate strategy, human resources, corporate marketing and global accounts.

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