Last Thursday, it was announced that Anne Mulcahy, Xerox
Chair and Chief Executive Officer, will step down from her position as CEO. Mulcahy
named current president Ursula Burns to be her successor, starting July 1,
2009. This will mark the first woman-to-woman transition in any Fortune 500
company. Additionally, this announcement makes Xerox the largest company led by
an African-American woman.
Who is Ursula Burns?
Ursula Burns was born in New York City in 1958. Although little
information is available about her childhood, it is known that she graduated
with a Bachelor of Science degree from Polytechnic Institute of New York in
1980. She later earned a Master of Science degree in Mechanical Engineering from
Columbia University in 1981.
From Intern to
President
Ursula Burns began working for the Xerox Corporation in 1980
as a mechanical engineering intern. During her time with the company, Burns later
held positions in product development and planning. In June 1991, Burns became
the executive assistant to then CEO and Chair, Paul A. Allaire.
From 1992 to 2000, Ursula Burns headed business teams
including the office color and fax business, office network copying business,
and the departmental business units. In May 2000, she earned the role of senior
vice president for Corporate Strategic Services. In this important role, Burns
headed manufacturing and supply chain operations. Later, she took on the
broader role of leading global research at Xerox while assuming responsibility
for product development, marketing and delivery.
In 2007, Ursula Burns was named president of Xerox. As
president, her leadership expanded to include Xerox's IT organization,
corporate strategy, human resources, corporate marketing, and global accounts.
Transitioning in a
"Daunting Time"
Burns' promotion comes after two straight quarters of sales
decline in what is said to be the worst economic downturn in more than 50
years. In her new position, Ursula Burns will have to focus on maintaining
Xerox's cash flow, while improving the product line.
Burns acknowledged the sales decline herself in an interview
earlier this month. "The market is definitely softer today," she said. "There
are less buying decisions, but many, many still going on."
John Engler, president of the National Association of
Manufacturers, a trade organization where Burns once served as a director,
believes the she will transition well. "Ursula brings a real set of skills.
She's creative, very direct. This will be a very peaceful transition," he said.
Boards and Honors
In addition to her hard work at Xerox, Ursula Burns serves
on several professional and community boards including: American Express,
Boston Scientific Corp., the Center on Addiction and Substance Abuse (CASA) at
Columbia University, FIRST – For Inspiration and Recognition of Science and
Technology, the National Association of Manufacturers, the University of
Rochester, and the Rochester Business Alliance.
In 2008, Ursula Burns was named the 10th most
powerful woman by Forbes Magazine – this was up one spot from the year before.
Resources:
http://www.bloomberg.com/apps/news?pid=20601103&sid=aIhEvH.6FCaE&refer=us
http://www.xerox.com/go/xrx/template/inv_rel_newsroom.jsp?ed_name=Ursula_Burns&app=Newsroom&format=biography&view=ExecutiveBiography
http://money.cnn.com/2009/05/21/news/companies/xerox_ceo/?postversion=2009052114
http://money.cnn.com/galleries/2008/fortune/0809/gallery.women_mostpowerful.fortune/10.html
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