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Anne MulcahyChairman of the Board of Directors and CEO of Xerox Corporation
Date of Birth: 21.10.1952
Country:  USA |
Content:
Biography of Anna M. Malkachi
Anna M. Malkachi, the Chairman of the Board and CEO of Xerox Corporation, Stamford, Conn., was named CEO of Xerox on August 1 and Chairman of the board on January 1, 2002. In addition to Xerox's board of directors, she serves on the boards of Catalyst, Citigroup Inc., Fuji Xerox, and the Business Council. Forbes Magazine ranked her 5th among the most influential women in America in 2005.
Early Life and Career
Anna M. Malkachi was born on October 21, 1952, in New York. She received a Bachelor of Arts degree in English and Journalism from the College of Marymount, a branch of Fordham University, in Tarrytown, New York, in 1974. In 1976, Malkachi began working at Xerox. She started as a sales associate and steadily climbed the corporate ladder. From 1992 to 1995, Malkachi served as the Deputy Head of the Human Resources Department. She was responsible for compensation, monetary payments, personnel management, leadership development, and employee training.
In 1997, Malkachi was appointed as the Head of the Human Resources Department and also served as the Deputy Head of the Customer Operations Group, which served South and Central America, Asia, Africa, and China. In 1998, she became the Deputy Head of the corporation. In August 2001, the board nominated Malkachi for the position of CEO. She became the first woman to serve as CEO, and later, the first woman to become Chairman of the board of Xerox. Malkachi admitted that she never aspired to be the CEO of Xerox and that it was a surprise for her and everyone else.
Leadership and Turning Point
During her early days as CEO, Malkachi traveled approximately 100,000 miles, visiting remote Xerox offices. She organized meetings where she addressed the possibility of bankruptcy and the company's financial struggles. She instilled hope in the demoralized employees by assuring them of the company's future prosperity. Her willingness to work face-to-face with her subordinates earned her the trust of the staff. Inspired by her hard work, the employees were motivated to follow suit.
Success soon followed, with the company's stock price increasing from $4.43 to $11 per share within four quarters. In 2003, Malkachi became the Chairman of the board of Xerox. By 2005, Xerox had fully recovered from the crisis, with a profit of $978 million. Malkachi introduced a new orientation policy for the company, considering employee engagement in their work as important as customer opinion. Surprisingly, this policy significantly increased sales. To ensure the company's continued growth, Malkachi annually invests $1 billion in innovative research and technology development. Xerox is now focusing on services and technologies related to "intelligent digital document management" and document workflow.
Personal Life
Anna M. Malkachi is married to Joe Malkachi, a retired sales manager, and they have two sons.
