Anne M. Mulcahy
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Anne M. Mulcahy
The former chair (2002-2010) and CEO (2001-2009) of Xerox Corp. Mulcahy has also held many senior management positions in the company, including president and chief operating officer. Born in 1952 in New York, Mulcahy began her career with Xerox in 1976 as a field sales representative and eventually became the company’s first female chair and CEO. She helped to salvage the company by restructuring it instead of declaring bankruptcy and settling an accounting investigation with the Securities and Exchange Commission.
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Mulcahy has been named to Forbes’ list of the 100 Most Powerful Women several times. In addition, Mulcahy was chosen by her peers in 2008 as the Chief Executive of the Year. She has also served on the boards of Fannie Mae, Citigroup, Johnson & Johnson, Target and the Washington Post Company.
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Anne M. Mulcahy
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This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2009) |
| Anne M. Mulcahy | |
|---|---|
| Born | Anne M. Dolan October 21, 1952 |
| Citizenship | United States |
| Education | B.A. English and Journalism |
| Alma mater | Marymount College, Tarrytown |
| Employer | Xerox Corporation |
| Home town | Rockville Centre, New York, U.S. |
| Title | Chairwoman and Chief Executive Officer |
| Predecessor | Paul A. Allaire |
| Successor | Ursula M. Burns |
| Board member of | Catalyst, Citigroup, Fuji Xerox, Johnson & Johnson, Target Corporation |
| Spouse | Joseph Mulcahy; 2 children |
Anne M. Mulcahy (née Dolan; born October 21, 1952) is former chairperson and CEO of Xerox Corporation. She was named CEO of Xerox on August 1, 2001, and chairwoman on January 1, 2002. In addition to serving on the Xerox board, she has been a member of the boards of directors of Catalyst, Citigroup Inc., Fuji Xerox Co. Ltd. and Target Corporation.
She was selected as 'CEO of the Year 2008' by Chief Executive magazine.[1] She announced her retirement as CEO on May 21, 2009 prior to the company's annual shareholder meeting.[2]
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Contents
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Early life and education
Mulcahy was born in Rockville Centre, New York. In 1974, she received her B.A. in English and Journalism from Marymount College.[3]
Career at Xerox
Mulcahy joined Xerox as a field sales representative in 1976 and rose through the ranks. From 1992-1995, Mulcahy was vice president for human resources, responsible for compensation, benefits, human resource strategy, labor relations, management development and employee training. She became chief staff officer in 1997 and corporate senior vice president in 1998. Prior to that, she served as vice president and staff officer for Customer Operations, covering South America and Central America, Europe, Asia, Africa, and China. Though never intent on running Xerox, she was selected by the board of directors in 2001. Later in her tenure, she cut the workforce by 30% and eliminated the desktop portion of Xerox.[citation needed]
When she became CEO on Aug 1, 2001 the stock price was $8.25, and on Jan 1, 2002 when she became chairwoman the stock price was $10.05. On May 21, 2009, the day she announced her retirement as CEO, the stock price was $6.82.[citation needed]
Mulcahy currently serves on four other Boards of Directors besides Xerox. She also serves on Catalyst, Citigroup, Fuji Xerox and Target Corp. A letter sent to Citi shareholders on March 26, 2009 by the labor union, American Federation of State County & Municipal Employees (AFSCME), recommended shareholders vote against re-electing six of their directors[4]
Magazine Opinion
The Wall Street Journal named Mulcahy one of 50 women to watch in 2005 and Forbes Magazine ranked her at the sixth position among the Most Powerful Women in America in 2005. In 2009, she was ranked 15th.[5] In 2008, she was selected by U.S. News & World Report as one of America's Best Leaders.[6]
References
- ^ "2008 CEO of the Year Award: Anne Mulcahy, Xerox CEO". http://www.chiefexecutive.net/ME2/Audiences/Default.asp?AudID=257093CD337F495B86A6A07046702F8C.
- ^ http://www.rnews.com/Story_2004.cfm?ID=72467&rnews_story_type=18&category=10
- ^ STERN, IRENA CHOI (12 May 2002). "EDUCATION; A Diploma for the Ages". The New York Times. http://www.nytimes.com/2002/05/12/nyregion/education-a-diploma-for-the-ages.html?src=pm. Retrieved 8 March 2012.
- ^ "AFSCME Demands Accountability at Citigroup". afscme.org. http://www.afscme.org/press/25934.cfm.
- ^ "The 100 Most Powerful Women". Forbes.com. http://www.forbes.com/lists/2009/11/power-women-09_The-100-Most-Powerful-Women_Rank.html.
- ^ "America's Best Leaders: Anne Mulcahy, Xerox CEO". http://www.usnews.com/articles/news/best-leaders/2008/11/19/americas-best-leaders-anne-mulcahy-xerox-ceo.html. Retrieved 2008-11-25.
| Business positions | ||
|---|---|---|
| Preceded by Paul A. Allaire |
President of Xerox Corporation May 11, 2000–2001 |
Vacant
Title next held by
Ursula M. Burns |
| Preceded by Paul A. Allaire |
CEO of Xerox Corporation August 1, 2001 – July 1, 2009 |
Succeeded by Ursula M. Burns |
| Preceded by Paul A. Allaire |
Chairwoman of Xerox Corporation January 1, 2002 – May 20, 2010 |
Succeeded by Ursula M. Burns |
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