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News > Companies
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Mulcahy to head Xerox
graphic December 3, 2001: 2:06 p.m. ET

Current president and CEO will succeed retiring Chairman Allaire.
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  • Xerox, EDS extend partnership - Nov. 28, 2001
  • Xerox raises $1 billion - Nov. 27, 2001
  • Xerox shuffles accounting executives - Nov. 16, 2001
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  • Xerox Corp.
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    NEW YORK (CNN/Money) - The board of troubled photocopier maker Xerox Corp. elected company President and CEO Anne Mulcahy chairwoman Monday.

    Mulcahy, who also will retain her current titles, succeeds Paul Allaire, who will retire from the Xerox (XRX: up $0.01 to $8.41, Research, Estimates)  board at the end of this year. He has been chairman since 1991 and had announced in August that he would retire.

    "Anne has won the respect of the board and Xerox people through

    her effective execution of Xerox's turnaround and the focused

    direction she has set for the company's future," Allaire said.

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    Mulcahy has led the company's progress in achieving its turnaround targets including selling $2.2 billion in assets and reducing costs by more than $1 billion, the company said.

    Mulcahy, who was appointed president and COO in May 2000 and CEO in August 2001, will assume her new duties Jan. 1. graphic

      RELATED STORIES

    Xerox, EDS extend partnership - Nov. 28, 2001

    Xerox raises $1 billion - Nov. 27, 2001

    Xerox shuffles accounting executives - Nov. 16, 2001
      RELATED LINKS

    Xerox Corp.




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