Xerox CEO Burns named chairman, Mulcahy to retire

NEW YORK, USA: Xerox Corp on Tuesday said chief executive Ursula Burns will add the title of chairman in May, replacing Anne Mulcahy, who is retiring.

Burns, who became CEO of the office document management company last July, will assume her new role on May 20, at Xerox's annual shareholders' meeting.

Mulcahy, 57, became chief executive of Xerox in 2001, and chairman in 2002. She also serves on the board of Citigroup Inc (C.N) and Target Corp (TGT.N) and had been an economic advisor to Barack Obama during the U.S. presidential transition.