Anne M. Mulcahy (born October 21, 1952) is chairman and former
chief executive officerA chief executive officer or chief executive is one of the highest-ranking corporate officers or administrators in charge of total management...
of Xerox Corporation. She was named CEO of Xerox on August 1, 2001, and chairman on January 1, 2002.
In addition to the Xerox board, she has been a member of the boards of directors of Catalyst,
CitigroupCitigroup Inc. , is a major American financial services company based in New York, NY. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998.Citigroup Inc...
Inc.,
Fuji Xeroxis a joint venture partnership between the Japanese photographic firm Fuji Photo Film Co. and the American document management company Xerox to develop, produce and sell xerographic and document-related products and services in the Asia-Pacific region....
Co. Ltd. and
Target CorporationTarget Corporation, usually known simply as Target, is an American retailing company that was founded in Minneapolis, Minnesota in 1902 as the Dayton Dry Goods Company. In 1962, the company opened its first Target store in nearby Roseville...
.
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.
Anne M. Mulcahy (born October 21, 1952) is chairman and former
chief executive officerA chief executive officer or chief executive is one of the highest-ranking corporate officers or administrators in charge of total management...
of Xerox Corporation. She was named CEO of Xerox on August 1, 2001, and chairman on January 1, 2002.
In addition to the Xerox board, she has been a member of the boards of directors of Catalyst,
CitigroupCitigroup Inc. , is a major American financial services company based in New York, NY. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998.Citigroup Inc...
Inc.,
Fuji Xeroxis a joint venture partnership between the Japanese photographic firm Fuji Photo Film Co. and the American document management company Xerox to develop, produce and sell xerographic and document-related products and services in the Asia-Pacific region....
Co. Ltd. and
Target CorporationTarget Corporation, usually known simply as Target, is an American retailing company that was founded in Minneapolis, Minnesota in 1902 as the Dayton Dry Goods Company. In 1962, the company opened its first Target store in nearby Roseville...
.
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 2008, she was selected by
U.S. News & World ReportU.S. News & World Report is an American newsmagazine published in Washington, D.C. Along with Time and Newsweek, it was for many years a leading news weekly, although it focused more than its counterparts on political, economic, health and education stories...
as one of America's Best Leaders.
She has been selected as 'CEO of the Year 2008' by
Chief Executive magazine.
She announced her retirement as CEO on 21 May 2009 prior to the company's annual shareholder meeting.
Early life and education
Mulcahy was born October 21, 1952, in
Rockville CentreRockville Centre is a village located in New York's Nassau County on Long Island in the United States. As of the 2000 census, the village had a total population of 24,568....
,
New YorkNew York is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts and Vermont to the east...
, USA. In 1974, she received her
B.A.Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences or both....
in English and Journalism from
Marymount College"Marymount College" may refer to:* Marymount College, a Roman Catholic school located in Gold Coast, Queensland, Australia* Marymount College, a Roman Catholic school located in Adelaide, South Australia...
, (a branch of
Fordham UniversityFordham University is a private university in the United States, with three campuses located in and around New York City. It was founded by the Roman Catholic Diocese of New York in 1841 as St...
) in
TarrytownTarrytown is a village in the Town of Greenburgh in Westchester County, New York, United States. It is located on the eastern bank of the Hudson River, about 25 miles north of midtown Manhattan in New York City, and is served by a stop on the Metro-North Hudson Line...
, N.Y.
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. Mulcahy 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, Anne Mulcahy was selected by the board of directors in 2001. When she became CEO on Aug 1, 2001 the stock price was $8.25, and on Jan 1, 2002 when she became chairman the stock was $10.05. On May 21, 2009, the day she announced her retirement as CEO, the stock closed at $6.82. She claims that duty and loyalty from being with the company for so long compelled her to help the company.
Later in her tenure, Anne cut the
workforceThe workforce is the labour pool in employment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, country, state, etc. The term generally excludes the employers or management, and implies those involved in...
by 30% and eliminated the desktop portion of Xerox. Visiting offices all over the nation, she attempted to boost morale and help the rest of the organization see how hard she was working, hoping for a mirror effect.
Anne Mulcahy currently serves on four other Board of Directors besides Xerox. She also serves on Catalyst, Citigroup, Fuji Xerox and Target Corp. A letter sent to Citi shareholders on the 26th of March 2009 by American Federation of State County & Municipal Employees requested that shareholders vote against re-electing six of their directors. These where mainly the directors on the Audit & Risk Management Committee. Mulcahy is one of those directors being singled out for termination.