NEW YORK (MONEY Magazine) -
Xerox looked like a lost cause when Anne Mulcahy took the helm back in July 2001. The copy-machine giant was eyeball-deep in debt and red ink -- and then came an accounting scandal.
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Yet here we are nearly three years later, and the company many had left for dead is fast becoming the great turnaround story of the post-crash era -- an IBM for the 2000s, with Mulcahy in the role of ex-Big Blue chief Lou Gerstner.
"There's a will to ensure that our company not only survives but has an opportunity to become great again," Mulcahy says of the turnaround.
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