Xerox Announces New Leaders For European And Developing Markets Operating Units

Press release from the issuing company

STAMFORD, Conn.--Dec. 1, 2003-- Xerox Corporation announced today executive changes in its European and developing markets operations as the company prepares for the year-end retirement of Carlos Pascual, executive vice president and president, Xerox Developing Markets Operations. Jean-Noel Machon, current president of Xerox Europe, assumes Pascual's role as president of DMO. Armando Zagalo de Lima becomes president, Xerox Europe. Zagalo de Lima is currently chief operating officer, Xerox Europe. Pascual has led DMO since January 2000 and is responsible for Xerox businesses in Latin America, the Middle East, Africa, the Eurasian countries, India and Russia. He joined Xerox Spain in 1968 as a marketing product specialist. He became general manager of Xerox Spain in 1979. Pascual has since held a wide variety of senior positions including managing director, Xerox France; president and general manager, Americas Customer Operations; and president, United States Customer Operations. "In his 35 years at Xerox, Carlos has touched every customer operation in the company and left an indelible mark on our people and customers," said Anne Mulcahy, Xerox chairman and chief executive officer. "His motivational skills, his loyalty to the company and his passion for the customer are second only to his ability to deliver operational results." Jean-Noel Machon has been the head of Xerox's European operations since July 2000. In this role, he has achieved record levels of cash generation and profitability from Xerox Europe. Machon joined Xerox in Lille, France, in a sales position in 1976. He has held a range of sales and management roles since then, rising to general manager of Xerox's Northern European entity in 1995 and Xerox France in 1996. Most recently, Machon was president of Xerox's General Market Operations in Europe and North America. His responsibilities included support of Xerox office and printing products and third-party distribution channels. "Jean-Noel brings his international and channels experience to an area of the world that requires flexible and fast responses. He is universally respected across the company and is ideally suited for this role," added Mulcahy. In his role of chief operating officer for Xerox Europe, a position he has held since September 2000, Armando Zagalo de Lima has been responsible for industry and geographic field operations, and concessionaires. Zagalo de Lima joined Xerox in Portugal in 1983 and has held a variety of management positions throughout Europe. In 1997, he was appointed general manager of Xerox's Southern European entity with operations in Italy, Spain, Portugal, and Greece. Before his current assignment, he was deputy managing director of Xerox Europe with responsibility for its global document solutions and services group. Mulcahy commented, "The combination of Armando's leadership skills and his tremendous knowledge of all aspects of our business make him an ideal choice for president of Xerox Europe." Machon and Zagalo de Lima will report directly to Mulcahy. Their appointments are effective Jan. 1, 2004. Pascual retires from the company on December 31.