Xerox has announced that chairman and director of the board Anne Mulcahy is to retire next month. She will step down on May 20, the day of Xerox’s annual shareholders’ meeting, and Xerox CEO Ursula Burns will take over in addition to her current role.
“Leaving Xerox is not easy, but the time is right,” said Mulcahy. “This decision is made infinitely easier by the knowledge that I turn the company over to a gifted leader at a point when our strategy is sound, our financial position is strong, and our opportunities for growth are considerable.”
Mulcahy has a long history with Xerox, first joining as a sales representative in Boston in 1976. Since then has gained a number of high profile roles within the company, including senior management positions in sales, human resources and marketing. She also led the business division that sells products for reseller and dealer channels.
She served as president and chief operating officer of the company from 2000 to 2001, before becoming chief executive officer and then chairman in 2002.
Her successor Ursula Burns became CEO of Xerox last July.
“A remarkable leader who inspires followership, Anne was instrumental in re-creating our company at a time when we needed it most,” said Burns. “She prioritized investments in innovation, shifted our strategy to become more focused on services, and significantly improved our financial health.
“As a result, we have a strong foundation from which to build an even stronger company. I am grateful for Anne’s extraordinary contributions, humbled by her confidence in my leadership, and committed to honoring her impressive legacy.”