Yale Chief Executive Leadership Institute to Honor Xerox Chairman Anne M. Mulcahy with Leadership Award

New Haven, Conn., December 15, 2009 — Xerox Corporation chairman Anne M. Mulcahy will accept the “Legend in Leadership Award” of the Yale Chief Executive Leadership Institute at a ceremony to be held December 17 at The Waldorf Astoria in New York City.

The award will be presented to Ms. Mulcahy by Ivan G. Seidenberg, chairman and CEO of Verizon Communications, at the 61st gathering of the Yale CEO Summit of The Chief Executive Leadership Institute, the nation’s first CEO college.

Anne M. Mulcahy is chairman of Xerox Corporation. From August 2001 through June 2009, she was also chief executive officer of the corporation. Mulcahy retired from the CEO post July 1, 2009.

Prior to serving as CEO, Mulcahy was president and chief operating officer of Xerox from May 2000 through July 2001. She has also served as president of Xerox's General Markets Operations, which created and sold products for reseller, dealer and retail channels.

Mulcahy began her Xerox career as a field sales representative in 1976 and assumed increasingly responsible sales and senior management positions. From 1992 through 1995, she was vice president for human resources, responsible for compensation, benefits, human resource strategy, labor relations, management development and employee training. She became chief staff officer in 1997 and corporate senior vice president in 1998. Prior to that, she served as vice president and staff officer for Customer Operations, covering South America and Central America, Europe, Asia and Africa, and China.

During her tenure as CEO, Mulcahy led the crisis turnaround that saved Xerox from the verge of bankruptcy. Through her vision and leadership, she transformed the company, focusing on operational efficiency and cost-cutting while strengthening the company’s core business, and while never cutting investment in R& D, thus maintaining Xerox’s commitment to its customers and innovation.

Conference organizer, Jeffrey Sonnenfeld, senior associate dean of the Yale School of Management, commented: “Anne Mulcahy helped save a great pillar of U.S. industry through her courage and inspired leadership. She stepped into Xerox in its darkest days, revolutionized their technology; fortified their global footprint, restored customer trust, and saved thousands of jobs. She is the model for how to be strong, fair, and persuasive as a turnaround manager as opposed to the clichéd images of short-term macho bullies in such roles. It is hard to imagine Xerox would exist today if not for Anne Mulcahy.”

The Yale CEO Summit will be held this Wednesday and Thursday at the Waldorf Astoria. While the discussions of the CEO Summit are off-the-record, the press is invited to attend the “Legend in Leadership Award” presentation to Mulcahy on Thursday, December 17, in the Empire Room of the Waldorf Astoria, 301 Park Avenue, at 4:00 p.m.; the final conference session, “Rediscovering Revenues: Rebuilding Customer Confidence,” to immediately follow; and the closing cocktail reception..

The conference theme is “You Can’t Go Home Again: Forging Your New Post-Crisis Business Model.” Distinguished global corporate leaders from across industries will engage in lively, candid discussions at this invitation-only leaders’ conference hosted by the Yale School of Management.

Among the expected conference participants are: Ellen Kullman, CEO, DuPont; Stephen Schwarzman, chairman and CEO, The Blackstone Group; Wilbur L. Ross, Jr., chairman and CEO, W.L. Ross & Co; Joshua Bekenstein, managing director, Bain Capital; James Chanos, managing partner, Kynikos Associates; William H. Donaldson, chairman of Donaldson Enterprises and former SEC chairman; Kenneth R. Feinberg, special master for TARP executive compensation, U.S. Department of The Treasury; Judge Jed S. Rakoff, United States District Court, Southern District of New York; Erin Burnett, anchor, CNBC; John Potter, U.S Postmaster General; Mark Fields, president, The Americas, Ford Motor Co.; Tony Alvarez, co-CEO, Alvarez & Marsal; Michael A. Leven, CEO, Las Vegas Sands Corp.; Steve Odland, chairman and CEO, Office Depot; Thomas E. Ascheim, CEO, Newsweek; Steven Brill, founder, CourtTV and American Lawyer; Robert Pozen, chairman, MFS Investment Management; Greg Fleming, president, Morgan Stanley Investment Management; and Richard C. Levin, president, Yale University, among many other current and former chairmen, CEOs, attorneys, and management scholars.

Conference sponsors include, Alvarez & Marsal, CNBC, Deloitte LLP, The NASDAQ OMX Educational Foundation, North Highland, and Russell Reynolds Associates.

The “Legend in Leadership Award” was created 20 years ago to honor current and former CEOs who serve as living legends to inspire chief executives across industries, sectors, and nations. Past winners of the award include: Infosys founder Nandan Nilekani; Jamie Dimon of JPMorgan Chase; Robert Iger of The Walt Disney Company; Stephen Schwarzman of The Blackstone Group; Roger Enrico of PepsiCo; John Pepper of Procter & Gamble; Don Keough of The Coca-Cola Co.; McKinsey founder Marvin Bower; Jim Kelly of UPS; Vanguard founder Jack Bogle; Ivan Seidenberg of Verizon; Richard Teerlink of Harley-Davidson; Holiday Inn founder Kemmons Wilson; financier Wilbur Ross; and Lou Gerstner of IBM.

The Yale Chief Executive Leadership Institute was founded in 1989 to provide original research on top leadership and lively, current educational forums through peer-driven learning for accomplished leaders across a range of sectors. Visit the Yale CELI website for more information.

For an interview with Jeffrey Sonnenfeld, or to register for the Legend in Leadership Award presentation ceremony, “Rediscovering Revenues” conference session, and closing reception, please contact Tabitha Wilde, 203-432-6010; tabitha.wilde@yale.edu, or Bonnie Blake: 203-915-4783; bonnie.blake@yale.edu.