Burns Takes Over as New Xerox CEO

Mulcahy, 56, who is credited with turning Xerox around after it came close to bankruptcy, will remain chairman of the Xerox board. During her tenure, Xerox has completely overhauled its product line, launching more than 80 products in the last three years alone.

"It is humbling to follow such a great leader and to serve as CEO of such a great company," says Burns. "I'm grateful for the opportunity and, like Anne, focused on creating value for our customers, our people, our shareholders and our communities."