chairmain & ceo, xerox corporation
Leadership Lessons Learned under Fire
Embattled Xerox Corporation chief executive Anne Mulcahy advised nearly 400 of her peers yesterday not to try and manage a difficult environment, but to keep their heads down and focus on their own businesses. Ms. Mulcahy told Boston-area executives yesterday, at a Chief Executives Club of Boston luncheon, that the company is bouncing back from a two-year string of setbacks that sent its stock price plunging and led to a recent $10 million fine from the SEC. "Unless you've been living on another planet, you undoubtedly have been reading a lot of negative news about Xerox lately," she stated. "There's not a lot I can do about the past, or the residual press coverage associated with it, but I'm looking forward with a new management team, a new strategy, and a new sense of purpose." She said the board of directors at Xerox, as at many other companies today, is rapidly revising its role in the world. It's not pleasant for me or for the board of directors to go through a Xerox crisis, but I think it has been a tremendous learning experience for all of us."
This story ran in the Boston Globe on Friday, May 10, 2002.