NEW YORK – Xerox Corp. said recently that Chief Executive Anne Mulcahy will retire July 1, to be succeeded by Ursula Burns, the printer and copier maker’s president.
NEW YORK – Xerox Corp. said recently that Chief Executive Anne Mulcahy will retire July 1, to be succeeded by Ursula Burns, the printer and copier maker’s president.
Xerox will become the largest U.S. company to be headed by a Black woman.
Mulcahy, 56, is credited with leading the Norwalk, Connecticut-based company out of a deep financial slump earlier in the decade. She was appointed in 2001 after the company fired G. Richard Thoman amid mounting losses.
Mulcahy will continue to chair the Xerox board.
The move has been in the works for some time, with Burns, 50, seen as an heir apparent since she was named president in April 2007.
“They effectively had a two-year transition period,” said Shannon Cross, an analyst at Cross Research.
“From what I understand, Anne is still going to be around full time, handling customer relations and strategy.”
Xerox lead independent director N.J. Nicholas Jr. said in a statement Thursday, “As CEO, Anne successfully led a multibillion-dollar turnaround of Xerox and transformed the business into an innovative digital technology and services enterprise.”
Mulcahy and Burns have both spent decades climbing the company ranks.
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