Xerox CEO & chairman Anne Mulcahy joins Google CEO Eric Schmidt as ICT advisers on US president-elect Barack Obama's new 17-member Transition Economic Advisory Board (TEAB).
The board had its first meeting last Friday and has been tasked with helping Obama prepare for his presidency next year.
Mulcahy, who has been widely credited with transforming Xerox's fortunes, and Schmidt join a number of business leaders including Time Warner chairman Richard Parsons and Warren Buffett, the richest man in the world and chairman & CEO of Berkshire Hathaway.
"Mulcahy's nomination to this advisory board is acknowledgement of her qualities as a leader, and of Xerox's pre-eminence in the technology market," says Rob Abraham, MD of Bytes Document Solutions, distributor of Xerox to 24 African countries. "Mulcahy has been instrumental in transforming Xerox over the last seven years, and she will have critical insights to help Obama rescue the US economy."
The board met for the first time in Chicago last Friday against the backdrop of an automotive industry in crisis, with GM and Ford having burnt through $14,6-billion in cash since August, and GM announcing that it is running out of cash. Saving the US auto industry is one of the first tasks confronting Obama.
Obama's successful election campaign was premised on the need for fundamental change, and was characterised by positive messaging. As he is of Kenyan extraction, he is expected to focus significant time and energy on Africa.
"Anne and Xerox are very committed to the African business market," adds Abraham. "When we launched the iGen 3, the world's leading production press in 2004, she made a special effort to meet with potential customers. In addition, Ursula Burns president of Xerox, is to visit South Africa later this year."
The full TEAB board is: David Bonior (member of the House of Representatives from 1977 to 2003); Warren Buffett (chairman and CEO of Berkshire Hathaway); Roel Campos (former Securities and Exchange commissioner); William Daley (Midwest chairman for JP Morgan Chase; secretary of the US
Department of Commerce from 1997 to 2000); William Donaldson (chairman of the US Securities and Exchange Commission from 2003 to 2005); Roger Ferguson (president and CEO of TIAA-CREF; former vice-chairman of the Federal Reserve board of governors); Jennifer Granholm (governor of Michigan); Anne Mulcahy (chairman and CEO of Xerox); Richard Parsons (chairman of Time Warner); Penny Pritzker (CEO of Classic Residence by Hyatt); Robert Reich (professor at University of California at Berkeley; secretary of the US Department of Labor from 1993 to 1997); Robert Rubin (chairman and director of the Citigroup executive committee; secretary of the US Treasury Department from 1995 to 1999); Eric Schmidt (chairman and CEO of Google); Lawrence Summers (professor at Harvard University; managing director of DE Shaw; secretary of the US Treasury from 1999 to 2001); Laura Tyson (professor at Haas School of Business of University of California at Berkeley; chairman of the National Economic Council from 1995 to 1996; chairman of the President's Council of Economic Advisers from 1993 to 1995); and Antonio Villaraigosa (mayor of Los Angeles).