In the year 2000, Xerox found itself on the brink of bankruptcy. During the same time, Anne Mulcahy, who rose through various ranks, became its CEO. This article discusses theturnaround of Xerox under Anne Mulcahy.

Anne Mulcahy, the Chairperson and Chief Executive Officer (CEO) of Xerox, has been associated with Xerox for the past three decades. She began her career at Xerox in 1976 when she joined the company as a field sales representative. After working in various positions in sales and senior management, she became vice-president (Human Resources) in 1992 and held that position until 1997 when she became the chief staff officer. In 1998, she was named the senior vice-president and executive vice-president in 1999. She gradually rose through various ranks to finally become the Chief Operating Officer in May 2000 and CEO in 2001 and thus created history by becoming the first woman CEO of Xerox.

Mulcahy was born on October 21, 1952 in New York. Mulcahy was the only girl child in her family but her parents always encouraged her to compete equally with her brothers. This helped Mulcahy inculcate an important characteristic of taking wise decisions even in difficult times. She is a straightforward, hardworking, disciplined and highly committed individual and was always endearing to her colleagues. These qualities helped her move up the ranks in the company and in becoming the CEO. Anne is not the only person from her family in Xerox. Her husband is a retired executive from Xerox and her brother manages the company's global services group. Mulcahy stepped in to the hot seat when the company was facing a crisis.

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