Latest / The CEO Diary with Fexingo: Leadership Lessons, Executive Decisions, and Corner Office Stories
How Anne Mulcahy Turned Xerox Around from the Brink
In June 2001, Xerox had $17 billion in debt, a collapsing stock price, and was months from bankruptcy. This episode examines how Anne Mulcahy, an unexpected CEO who had never run a business unit, saved the company through a combination of cash discipline, customer focus, and cultural transformation. We look at the specific moves she made — selling off assets, cutting $2.5 billion in costs without slashing R&D, and personally visiting the top 100 customers. Mulcahy's turnaround is a masterclass in crisis leadership without a finance background. We also explore what her successor Ursula…
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