Anne M. Mulcahy
Encyclopedia
Anne M. Mulcahy is former chairwoman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...

 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
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...

 Inc., Fuji Xerox
Fuji Xerox
is 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 Corporation
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...

.

She was selected as 'CEO of the Year 2008' by Chief Executive magazine. She announced her retirement as CEO on May 21, 2009 prior to the company's annual shareholder meeting.

Early life and education

Mulcahy was born in Rockville Centre, New York
Rockville Centre, New York
Rockville Centre is a village located in Nassau County, New York, in the United States. As of the 2010 census, the village had a total population of 24,023. The town is made up of middle to upper middle class residents, most of the wealthier residents residing on the north side of town near the...

. In 1974, she received her B.A.
Bachelor of Arts
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, Tarrytown
Marymount College of Fordham University was a women's college in the United States, eventually to become part of Fordham University. The Marymount campus was located in Tarrytown, New York. Enrollment peaked at 1,112 in 1978, but by 2004 it enrolled 844 students...

.

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
Workforce
The 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.

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

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

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. In 2008, she was selected by U.S. News & World Report
U.S. News & World Report
U.S. News & World Report is an American news magazine published from Washington, D.C. Along with Time and Newsweek it was for many years a leading news weekly, focusing more than its counterparts on political, economic, health and education stories...

as one of America's Best Leaders.
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