Anne Mulcahy and Xerox

After 25 years of diligently working her way up the corporate ladder at Xerox, one would imagine that being named President and Chief Operating Officer would be a moment of great satisfaction for Anne Mulcahy. As it turned out, however, it was not. In truth, a word she has used to describe the feeling of being given the position is dread. Of course, there was a significant amount of pride blended with the dread, but nonetheless, dread was a prominent sensation.

The reason for this was simple. Xerox, the company in which she had toiled for two and a half decades, looked as if it might be teetering on the brink of bankruptcy.

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