If you don’t know anything about Xerox’s recent history, you may make the mistake of thinking that it’s an old, established organization that makes copiers and fax machines. You may think that it has always paid a stock dividend to widows & orphans. You would be wrong.
Xerox has been to hell & back over the past decade. When Anne Mulcahy was elevated to the CEO position in 2000, she had very little financial experience and had primarily worked in Sales and Human Resources. Xerox was in free-fall, dudes, and Anne Mulcahy was considered to be the Sarah Palin of CEO picks: a hail mary pass at the end of the 4th quarter.
Mulcahy had worked at Xerox for more than two decades