Imagine being the only girl with four brothers. That’s what life was like for Xerox CEO Anne Mulcahy. In fact, Anne’s parents always encouraged her to compete at the same level as the rest of her four brothers. And, through their encouragement, she learned to never limit herself or give up — even when the odds seemed impossible.
After finishing high school, Anne went to Marymount College where she earned her degree in English and Journalism. After graduation, Anne began working for Xerox as a sales representative. Before long, her supervisors noticed her strong dedication. By May of 2000, she was chosen by Xerox’s board to be the President and CEO-in-waiting.
Anne’s straightforward, hardworking, and disciplined spirit was desperately needed by the Company since they were in a very difficult financial position. It didn’t take long before she started making decisions that effected the entire organization. The decisive improvements she made were a crucial part of restructuring the business and reducing long-term debt.
Many colleagues have praised Anne for her honesty and willingness to tackle the tough tasks. Today, the Xerox brand is well-known around the globe and notorious for bringing the latest technology to the document management and service enterprises.
Here are some recent moves you should know about Xerox:
Recent Company News: One of Xerox’s subsidiaries announced that it acquired Image Quest, Inc. to further increase its growing number of suppliers. This move adds more than 3,500 customers and brings Xerox’s presence to the state of Kansas.
Dividend: Last month, the Company announced its first dividend in over six years. Anne said that “With our return to investment grade, strong cash generation and effective business model, we’ve significantly strengthened our financial position, providing flexibility for investing in our business and delivering shareholder returns.”
Current Financial Status: Xerox’s latest quarterly earnings beat Wall Street’s estimates by reporting a 12% increase in revenues and earnings of 27 cents per share. The strong growth is the outcome of the Company’s innovation, great portfolio, and acquisitions that are delivering value to shareholders as well as customers.
One important thing to note is that if the economy continues to slowdown it will hurt the accounts of consumers and businesses. Although Xerox’s products are known for their superiority, they are also priced higher, which could lead struggling businesses to buy from lower priced competitors.
Bottom Line: The Company’s management team has done a great job substantially improving the financial condition of the company and has shown investors that they do not plan to stop. As long as the economy remains strong, Xerox has serious upside potential.
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