Andrew Cuomo. "Looking back on the article now, I'd say we've already accomplished about 80 percent of things we set out to do," she said.When a student in the audience asked Mulcahy what keeps her up at night these days, her response reflected both her honesty and her resolve. Through a "back to basics" approach and a renewed focus on operational efficiency, the company cut its capital expenditures by 50 percent; reduced its sales, general, and administrative expenses by one-third; and slashed its total debt in half.

When Mulcahy took the helm in 2001, Xerox was teetering on the verge of Chapter 11 bankruptcy. "When I became CEO, I spent the first 90 days on planes traveling to various offices and listening to anyone who had a perspective on what was wrong with the company. Customers were unhappy and the economy had started to falter.
I want to do everything I can to make sure that we don't lose that now that we're back on track. A recent reorganization of the company's sales force had not gone according to plan. Trust your management instincts. "We included performance metrics — even quotes from Wall Street analysts.

"I think I am more motivated by fear of failure than a desire to succeed," she admitted. Anne Mulcahy, who led a painful turnaround at Xerox, was soon being named as … Not so fast, says New York Gov. Images: Getty Images Composite: Mark KellyAn Air India Express flight skidded off a runway while landing in Calicut, southern India, on Friday. She gives us a tour, and explains why it’s time to sell. "I certainly hadn't been groomed to become a CEO," Mulcahy said. Up Next. "I like to say that we were 'early adopters' of SEC scandal," Mulcahy joked.From the beginning, Mulcahy and her team devised a bold plan for recovery.

Photo: FedExMain Street: Democrats Alexandria Ocasio-Cortez and Bill de Blasio demand even more onerous taxes. White House aides hinted they wanted a prominent corporate executive. "I would think to myself, 'Why aren't you asking me whether or not we're going to make it?'"

Her no-nonsense, no-holds-barred approach left her with a dedicated workforce uniquely aligned around a common set of objectives.Even when Mulcahy wondered if her aggressive turnaround plan would work, the resilience and optimism of Xerox employees fueled her resolve — and her vision. Mulcahy – whose parents expected all of their children to pursue an education – graduated from the all-girl Marymount College (now part of Fordham University).

"I took on this position feeling equal parts excitement and dread," she recalled. "We outlined the things we hoped to accomplish as though we had already achieved them," said Mulcahy.
December 1, 2004|byLisaVollmer Photo: Adam Falk/The Wall Street JournalChina Beige Book's Shehzad Qazi discusses why the U.S. and China remain far apart on everything from social media to trade. "That was a real confidence builder," she joked.Addressing a packed auditorium as part of the 2004-05 "View From The Top" speaker series, Mulcahy described the strategy behind the company's return to profitability, or — as it was dubbed by Money magazine — "the great turnaround story of the post-crash era. "I didn't have a very sophisticated financial background, and I had to make up for my lack of formal training. December 1, 2004|by Lisa Vollmer When Anne Mulcahy was named CEO of Xerox Corp. in 2001, many people were surprised — but no one was more surprised than Mulcahy herself. "I feel like my title should be Chief Communication Officer, because that's really what I do," she said, emphasizing the importance of listening to customers and employees. "That was an understatement. Walt Disney Co. posted its first quarterly loss since 2001, as the coronavirus pandemic slammed its theme parks and film productions. Anne Mulcahy, chairman and chief executive of Xerox, calls pressure from Wall Street for short-term performance “a huge problem” that may be hurting public companies in the long run. It intensifies your focus, your competitiveness, your relentless desire to attain best-in-class status. All the while, Xerox strengthened its core business by maintaining an organization-wide focus on innovation.

WSJ explores why many are looking to robots as the solution for all three. It forces you to make choices that you probably wouldn't have made otherwise. Photo: Minneapolis Police DepartmentSamsung’s Galaxy Note smartphones have always been known for on-the-go productivity, but now we’re not going anywhere. When employees asked her to describe what Xerox would look like when it emerged from the turnaround, Mulcahy initially was incredulous. The only daughter of a writer/editor and a stay-at-home mother, Mulcahy had four brothers with whom she was raised as an equal. She earned her degree in English and Journalism in 1… Nonetheless, she committed her vision of the company's future to paper: not with a traditional vision statement, but with a fictitious Wall Street Journal article describing Xerox in the year 2005. "In addition to soliciting honest feedback, Mulcahy said both honesty and confidence are critical to effective communication, especially during times of crisis. "My experience at Xerox has taught me that crisis is a very powerful motivator.

Beyond that, you have to tell people what they can do to help." Almost immediately, she addressed the company's liquidity issues and quickly raised $2.5 billion in cash. Rally your staff behind you and use the crisis as a chance to make radical changes, says Anne Mulcahy. WSJ’s R.T. Watson explains why investors still seem optimistic.


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