Xerox CEO turns over a new leaf

NEWS Rick Thoman, CEO of Xerox, has resigned after a tumultuous year that has seen the office equipment company's stock fall by more than 50 per cent from last year. Paul Allair, chairman of Xerox and Thoman's predecessor, will return to the position on an interim basis. The company's board of directors has promoted Anne Mulcahy, former head of general market operations to the position of president and chief operating officer. The Financial Times tipped Mulcahy as "a rising star in the company" and speculated she may be in line to become Xerox's first female CEO. Xerox did not comment further on Thoman's departure or on his future plans.