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Black Woman is First to Lead a Fortune 500 Company

Xerox named Ursula Burns to succeed Chief Executive Anne Mulcahy, in a move that makes Burns one of the most prominent African-Americans to head a Fortune 500 company.

Mulcahy, 56, an economic advisor to Barack Obama during the U.S. presidential transition, will retire as CEO on July 1. She is a 33-year veteran of Xerox, where she became CEO in 2001.

An avid biker, Burns, 50, will join a list about 15 women CEOs of a Fortune 500 company and become one of only a handful of African American CEOs. She joined Xerox in 1980 as an engineering intern, was named president in 2007, and had been groomed as the next CEO by Mulcahy. [ID:nN19438536]

Mulcahy, who has been credited with revitalizing the world’s top supplier of digital printers and document management services, and also serves on Citibank’s (C.N) board of directors, will remain as the company’s chairman.

 

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