As with so many of our programs that have long roots, they have been the catalyst for doing much more. Our early successes with volunteering in schools opened our eyes to how much more needed to be done. In the 1970s we launched partnerships with about a dozen of the best engineering programs in historically black colleges and with the National Action Committee on Minority Engineering to provide scholarship help. By the 1980s we were bringing hundreds of summer interns in science and engineering to work at Xerox technical centers for the summer. More recently, we joined the Gates Foundation and Verizon as founding partners of the National Academy Foundation’s Academies of Engineering.

Good citizenship and good business are not only compatible but synergistic. That belief is deeply rooted in our core values and corporate culture.

The academies operate as “schools within schools” – typically in large urban school systems. They are aimed at encouraging young people to pursue careers in the sciences and engineering, equipping them with the academic foundation to succeed in college and providing strong role models through summer internships. Thirteen academies opened their doors this September with another 20 to follow in September 2009. In all, more than 100 are planned, graduating 9,000 students annually. As with so many of our strategic initiatives, our financial investment will be augmented by Xerox mentors, field trips, job shadowing and internships.

Thoughtful, multi-pronged strategies like this always end up benefiting all our stakeholders. In this case, our customers benefit because we gain access to the broadest, deepest and most innovative talent pool in our industry, enabling us to continue to create customer value. Our shareholders benefit because this pool of new talent enables us to push the frontiers of what’s possible, ensuring that we continue to be a good investment far into the future. Society benefits because we help bring new scientists and engineers into the work force. One very tangible benefit to Xerox is our President, Ursula Burns. She came to Xerox as a summer engineering intern in 1980 and never left. Talk about a return on an investment!

We believe we’ve been pioneers in the field of corporate citizenship and have established quite a record. We also believe we’ve done it the old-fashioned way – quietly and without a lot of fanfare. But if you think we’re satisfied, think again. Xerox people are keenly aware that for those to whom much has been given, much is expected. We don’t shrink from these expectations; we embrace them.

In this report you will see how. I believe you will sense a quiet pride, but no chest-thumping. That would be unseemly to our people. What you will find are the data and accomplishments laid out for all to see – and to judge. We seek neither to embellish our accomplishments nor burnish them with rhetoric. Here is our report for 2008. You decide how we are doing.


Anne M Mulcahy Signature