Xerox on Thursday said it had appointed CEO Ursula Burns as the company's new chairman, replacing former chairman Anne Mulcahy, who announced her retirement from the company.
Burns will assume the role of chairman immediately. Burns is also the company's CEO, a position to which she was appointed in May 2009. Burns took the CEO position at the time from Mulcahy, who retained her post as chairman.
Burns joined Xerox close to 30 years ago and was previously responsible for running parts of Xerox's printer business. She also held roles in the manufacturing, supply chain, marketing and research operations. Burns was named the company's president in April 2007.
Xerox has been expanding from its core printer business, diversifying and offering business process outsourcing, document management and imaging and printing services. The company acquired services company Affiliated Computer Services for US$6.4 billion in February.
The company in recent years has laid off thousands of employees in an effort to reach profitability. Xerox last month reported revenue of $4.7 billion for the first quarter of 2010, a 33 percent rise from the first quarter of 2009. However, the company reported a loss of $42 million, a decline from a profit of $42 million it reported in the year-ago quarter. The loss included charges related to the ACS acquisition.