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Mulcahy to retire

Anne M. Mulcahy

Anne M. Mulcahy

Xerox Corp. announced Tuesday that Anne M. Mulcahy will step down as chairwoman and a director of the board, effective May 20, the day of the company’s annual shareholders’meeting. 

CEO Ursula M. Burns will then assume the additional role of chairman.

“Leaving Xerox is not easy, but the time is right,” Mulcahy said in a statement. “This decision is made infinitely easier by the knowledge that I turn the company over to a gifted leader at a point when our strategy is sound, our financial position is strong, and our opportunities for growth are considerable.”

Mulcahy, 57, became CEO in 2001, and chairwoman in 2002.  She was president and COO from May 2000 through July 2001.

She began her Xerox career as a sales representative in Boston in 1976.

During her 34-year tenure with Xerox, Mulcahy has held senior management positions in sales, human resources and marketing, and led the Xerox business division that sells products for reseller and dealer channels.

Burns became CEO of Xerox last year. The board has elected Burns to succeed Mulcahy in the chairman role, effective May 20.