Who

Mulcahy is chairwoman of Xerox. She retired from her position as the company’s CEO in July 2009.

Backstory

A Xerox lifer, Mulcahy started at the company as a lowly field-sales rep in the mid-1970s. After more then a decade and a half in the sales organization and a stint running departments like human resources and customer service, Mulcahy was named CEO in 2001, replacing retiring chief Paul Allaire. Few had high hopes when Mulcahy became the first female CEO in the company's history in early 2002. A longtime saleswoman, Wall Street analysts thought she lacked the requisite financial experience for the top job, and the stock dropped 15 percent the day it was announced she'd be taking over. Xerox's prospects weren't all that bright either: the stock was in the tank, the SEC was investigating questionable accounting practices, and the once proud copying and printing giant was teetering on the verge of bankruptcy. Indeed, with $17 billion in debt and just $154 million in the bank, it was a situation that would make even the greatest turnaround artists blanche. Mulcahy and her team put together a plan to turn the company around and quickly set about cutting costs, reducing debt and raising much-needed cash.

Of note

Xerox largely rebounded during Mulcahy's reign. Thanks to steep cuts, the closure of several divisions, and the restructuring of the company's debt, Mulcahy helped Xerox to become more competitive than ever during her tenure as CEO. She has since handed over the reigns to Ursula Burns, who spent years working under Mulcahy as the president of the company.

By the numbers

Mulcahy earned $10.6 million in cash and stock in 2006.

Board game

Mulcahy serves on the board of Target as well as Citigroup, along with Vikram Pandit, Dick Parsons, Bob Rubin, and Judith Rodin, among others.

Personal

It's a family affair at Xerox for Anne: Her husband, Joe Mulcahy, is a retired sales manager from the firm, and her brother heads its Global Services Group. She and her husband—who have two kids—sold their Midtown East apartment for $3.8 million in 2008, and are currently living in Fairfield, CT while they search for a new apartment. They also own a vacation home in Vero Beach, FL.