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© History Oasis / Created via Midjourney
1946-1967
Joseph Wilson is credited as the “founder of Xerox.”
He led the company from 1946 to 1967 as President/CEO, remaining Chairman until his death in 1971.
He saw the potential in Chester Carlson’s xerography invention and signed an agreement in 1946 to develop it commercially.
As Wilson led the company, Xerox introduced its revolutionary 914 copier in 1959, which became a must-have in every office.
He also oversaw the company’s name change from Haloid to Haloid Xerox in 1958 and finally to Xerox Corporation in 1961.
1968-1982
During Peter McColough’s tenure, Xerox moved its headquarters to Xerox Square in downtown Rochester with its 30-story Xerox Tower.
It was a major period of expansion for Xerox, including the acquisitions of University Microfilms in 1962 and Scientific Data Systems in 1969.
McColough also established Xerox PARC (Palo Alto Research Center) in 1970. The research center developed groundbreaking technologies like the personal computer, graphical user interface, and Ethernet.
1982-1990
David Kearns had been an Xerox executive since 1971 and moved up the ladder to CEO.
He oversaw Xerox improving its quality design and realigning its product portfolio.
The company expanded beyond copiers, introducing electronic memory typewriters and acquiring companies like Kurzweil Computer Products and Datacopy.
Xerox also diversified into financial services by acquiring Crum & Forster insurance company.
1990-1999
When Allaire became CEO in 1990, he shifted Xerox’s focus to document processing.
During his tenure, Xerox introduced the DocuTech Production Publisher in 1990, leading to print-on-demand technology.
Allaire divested some of the company’s insurance businesses.
After briefly relinquishing the CEO role to Richard Thoman, Allaire returned as CEO until Anne Mulcahy’s appointment.
1999-2000
Richard Thoman was the first “outsider” to head Xerox.
He was recruited from IBM in 1997 as president and became CEO in April 1999.
His brief tenure was marked by declining financial performance and a reorganization of Xerox’s worldwide sales force.
After just 13 months as CEO, Thoman resigned in May 2000 amid deteriorating company results.
2001-2009
Anne Mulcahy implemented an aggressive turnaround plan that returned Xerox to full-year profitability by the end of 2002.
Chief Executive magazine elected her as ‘CEO of the Year 2008’ for her leadership in reducing debt, increasing cash flow, and maintaining investment in R&D.
2009-2016
Ursual Burns became the first African American woman to lead a Fortune 500 company and the first woman to succeed another woman as head of a Fortune 500 company.
She oversaw the $6.4 billion purchase of Affiliated Computer Services, the largest in Xerox’s history.
Burns shifted Xerox towards business services and split the company into two independent companies in 2016: Xerox Corporation and Conduent Incorporated.
2017-2018
Jacobson succeeded Burns as CEO in 2017.
His relatively short tenure was marked by the announcement of Xerox’s acquisition by Fujifilm in January 2018, a deal valued at over $6 billion.
However, the merger faced strong opposition from major shareholders Carl Icahn and Darwin Deason, who filed a lawsuit claiming Xerox was undervalued.
The deal was eventually called off in May 2018, and Jacobson departed soon after.
2018-2022
John Visentin came with extensive experience managing IT services businesses at companies like Hewlett-Packard and IBM.
Visentin mainly focused on transforming Xerox’s operations to drive profitable growth.
But he died before implementing his strategy in June 2022.
2022-Present
Initially joining Xerox in 2018 as President and Chief Operations Officer, Steven Bandrowczak served as Interim CEO following Visentin’s passing in June 2022 before becoming the official CEO.
Bandrowczak has focused on leveraging digital platforms to transform global operations, increase market share, and improve profitability.
He is tasked with leading Xerox into the digital age.
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