Anne Mulcahy
In 2007, Ursula M. Burns accepted a National Medal of Technology for Xerox from President Bush at the White House.
After eight years of hard work turning around a company in disarray, Anne M. Mulcahy has managed to make her departure as chief executive of Xerox look effortless.
During a shareholders’ meeting on Thursday, Ms. Mulcahy revealed that she would retire as chief executive in July but remain chairwoman. Her handpicked successor is Ursula M. Burns, the president of the company. The management change had been predicted for years, making it one of the least tumultuous power changes in Xerox’s recent history.
According to Xerox, this is the first time a female chief executive has replaced another female chief executive at a Fortune 500 company. In addition, Ms. Burns is the first African-American woman to run a company this large. Xerox reported revenue of $17.6 billion in 2008.
Xerox declined to make either executive available for interviews.
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