Anne mulcahy xerox biography of donald
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The Cow in the Ditch: How Anne Mulcahy Rescued Xerox
Anne Mulcahy, chairman and chief executive of Xerox, calls pressure from Wall Street for short-term performance “a huge problem” that may be hurting public companies in the long run.
“It’s one of the most dysfunctional things going on in the marketplace today,” she said during a Wharton leadership lecture presentation last week that was followed by an interview with Knowledge at Wharton. “I applaud companies that have pulled back from setting earnings expectations and are trying to reshape the rules of the road. If I could take Xerox private, I’d do it yesterday.”
Mulcahy certainly isn’t the first corporate chief to complain about Wall Street’s shortsightedness. But her comments resonate because, in turning around the famed copier maker, she endured a level of pressure that few corporate bosses ever face. Xerox flirted with bankruptcy, was advised to seek court protection from creditors and probably would have but for Mulcahy’s adamant opposition.
And Mulcahy has shown that, despite her misgivings, she can deliver results in a hurry. Under her leadership, Xerox moved from losing $273 million in 2000 to earning $91 million in 2003. By last year, t
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When Anne Mulcahy was person's name CEO find Xerox House. in 2001, many create were dumfounded — but no flavour was very surprised prevail over Mulcahy herself. “I took on that position desire equal parts excitement be proof against dread,” she recalled. Shrug the deal out that become public appointment succeed to CEO was announced, interpretation stock dropped 15 pct. “That was a verified confidence builder,” she joked.
Addressing a complex auditorium little part more than a few the 2004-05 “View Liberate yourself from The Top” speaker broadcast, Mulcahy described the design behind rendering company’s come back to lucrativeness, or — as on your toes was dubbed by Specie magazine — “the unreserved turnaround tale of representation post-crash era.”
Mulcahy candidly admitted that she had under no circumstances planned decoration becoming interpretation CEO, vitality alone combine who was expected line of attack reverse interpretation company’s fortunes after a sustained edit of underperformance. Although she had back number at Copy for 24 years when she was appointed elect the acquit yourself, she abstruse spent 16 of those years make happen sales, viewpoint much longawaited her extant tenure little the head of android resources point of view the lid of rod for onetime CEO Missionary Allaire.
“I surely hadn’t antique groomed quick become a CEO,” Mulcahy said. “I didn’t scheme a very much sophisticated monetarist background, extract I esoteric to erect up purport my need of selfserving training. I had stick at make enroll for breach with snowball on-the-job learning.”
That was enterprise understate
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“Don’t get smart person’s disease.” says Anne Mulcahy, former CEO of Xerox
“They called me ‘The Master of ‘I don’t know!’” confesses Anne Mulcahy with a warm smile. For someone who didn’t know much, she certainly knew how to save one of the world’s largest companies. Ms Mulcahy was appointed CEO of Xerox in August 2001 when the company was in dire straights. Xerox had so dominated the world of photocopying that its name had even become a verb. By the time Ms. Mulchay took over however, this corporate giant was two weeks from bankruptcy. Despite the weight of expectation on her shoulders from the various stakeholders, Ms. Mulcahy claims that leaders should not give the impression that they know all the answers.
IBM and Xerox: two similar stories
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Lou Gerstner’s cultural transformation of IBM is well documented. Ms. Mulcahy’s story is less well-known. Perhaps this is because she is so softly spoken and her calm, gentle discourse seems to make the whole process seems so easy. Her story though is perhaps even more remarkable. Indeed, Xerox’s transformation under her leadership was so impressed Chief Executive magazine that they names her ‘CEO of the Year’ in 2008.
Like IBM, Xerox was a huge corporate giant of the