Ursula Burns; First African American Female Fortune 500 CEO

1. Ursula Burns; First African American Female Fortune 500 CEO BUSM 520; Assignment 2 Dr. Michael McDermott Presented by Bradley H. Kerkhoff May 11th, 2010

2. XEROX BACKGROUND Bradley H. Kerkhoff

3. URSULA BURNS PERSONAL LIFE Bradley H. Kerkhoff

4. URSULA BURNS CAREER TIMELINE Bradley H. Kerkhoff

5. FORMER CEO & CURRENT CHAIRMAN MULCAHY & BURNS BACKGROUNDS Bradley H. Kerkhoff

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8. WHAT URSULA BURNS LEARNED FROM MULCAHY • http://www.geronimocoaching.com/2010/03/ursula-burns-speaks-on-leadership.html • “Its all about everybody else” • “It’s about being associated with Greatness, it’s not about being Great” • “If you keep an eye on what’s important here, then everything else will kind of fold into place” Bradley H. Kerkhoff

9. EXAMPLES OF BURNS EMOTIONAL INTELLIGENCE Bradley H. Kerkhoff

10. SEVEN TRANSFORMATIONS OF LEADERSHIP & BURNS Bradley H. Kerkhoff

11. CEO TRANSITION & MANY FIRSTS http://www.youtube.com/watch?v=xROcJd223Qo • After a messy succession that ended in a CEO lasting only 13 months before Mulcahy, a long range plan was developed for the transition. • Mulcahy & Burns designed the transition together • A clear process in place. Slowly shifted responsibilities to the point that at the time of the transition, the shift wasn’t very noticeable. • Mulcahy is still very involved as Chairman of the Board • A testament to how far our nation has come since the Civil Rights and Women’s Rights movements. • The first African American Female to become CEO of a Fortune 500 company • “The accolades that I get for doing absolutely nothing are amazing--I've been named to every list, literally, since I became the C.E.O.” • The first time a female CEO has handed the reigns to another female CEO in the Fortune 500 Bradley H. Kerkhoff

12. XEROX/ACS ACQUISITION Vision: ACS shuffles lots of documents, both digital and paper, with 77,000 employees who process medical bills, student loan records, and credit card applications for other companies or government agencies. Xerox makes some of the most advanced equipment to automate document handling, plus has a global sales force and customer ties to the world's biggest companies. Bring them together, and they'll solve problems in new ways. Bradley H. Kerkhoff

13. MAKING JUDGEMENT CALLSDID URSULA FOLLOW SOUND LEADERSHIP IN HER ACQUISITION OF ACS? • Judgment is a three part process: • Preparing: Framing the issue that will demand a judgment call, ensuring that your team members understand why the decision is important, and tapping ideas from stakeholders • ACS would transform the company from a seller of printing equipment and print services with $16 billion in revenues into a $22 billion specialist in gathering, analyzing and sharing information. Without a bold services move, Xerox faces stagnating revenue in its core product business as it matures. • Making the call: Arriving at your decision and explaining it • "If you asked us to stay in the print and copy infrastructure business, we would have very little future,” Burns • Executing: Carrying out your decision while learning and adjusting along the way • ACS Execution period is just beginning. In Burn’s past, while her partner Anne Mulcahy was criss-crossing the country reassuring shareholders and employees that Xerox’s restructuring plan would save the company, it was Burns that implemented the strategy. Bradley H. Kerkhoff

14. LOOKING FORWARD • Execution of Xerox’s strategy to integrate ACS • Transition Xerox into a Document & Business Process Mgt. company • Xerox Culture: Keep what works, change what doesn’t • Burns believes Xerox is “a really, really, really nice company.” Citing a culture of audiences not questioning strategies out of politeness, Burns is demanding candor. The Xerox culture claims to be a big family. Burns believes functional families argue. Bradley H. Kerkhoff

15. Bibliography • Chapsal, M. (2010). 6 Leadership Lessons from Ursula Burns:" Bold Bets and Back to Basics". Retrieved May 7, 2010, from Geronimo Leadership Coaching, Web site: http://www.geronimocoaching.com/2010/03/6-leadership-lessons-from-ursula-burns-bold-bets-and-back-to-basics.html. • Unknown, . (2006). Behind the Scenes of a Great Turnaround. Retrieved May 8, 2010, from MIT Sloan School of Management, Massachusetts. Web site: http://mitsloan.mit.edu/newsroom/2006-mulcahy.php. • Burns, U. (2009). Xerox Chief on ACS Deal (CNBC). Retrieved May 8, 2010, from CNBC, New York, New York. Web site: http://video.nytimes.com/video/2009/09/28/business/1247464875852/xerox-chief-on-acs-deal-cnbc.html. • Tichy, N. M. & Bennis, W. G. (2007). Making Judgment Calls. Retrieved May 8, 2010, from Harvard Business Review, Boston, MA. Web site: http://hbr.org/2007/10/making-judgment-calls/ib/pr. • EDGAR Online; Web site: http://www.nasdaq.com/aspx/chartingbasics.aspx?intraday=off&timeframe=1y&charttype=ohlc&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=on&index=&drilldown=off&symbol=XRX&symbol=LXK&symbol=RICOY&symbol=HPQ&symbol=KYO&symbol=CAJ&selected=LXK • Morris, B. (2007). Dynamic Duo. Retrieved May 10, 2010, from Fortune Magazine, New York, New York. Web site: http://money.cnn.com/magazines/fortune/fortune_archive/2007/10/15/100536857/index2.htm. Bradley H. Kerkhoff