Rick Thoman was elected chief executive officer of Xerox Corporation by the Board of Directors. The announcement was made by Paul A. Allaire, who is relinquishing the title of CEO but remaining as board chairman for about another year. Also today, two executive vice presidents, William F. Buehler and Barry D. Romeril, were elected to the board and named to the newly created position of vice chairman of the board. Buehler is also president of Industry Solutions Operations for Xerox and Romeril is also the company’s chief financial officer. Allaire became CEO in 1990 and chairman the following year. Richard “Rick” Thoman, 54, joined Xerox in June 1997 from International Business Machines. From 1994-1995, he was senior vice president and general manager of IBM’s personal systems group, which included the PC Company; and later he became IBM’s chief financial officer. Prior to joining IBM in 1994, Thoman was president and CEO of Nabisco International, beginning in 1992. Before that, he was president and CEO of American Express International and chairman and co-chief executive officer of American Express Travel Related Services Company. Before joining American Express in 1979, Thoman was a senior associate with McKinsey and Company. Buehler, 59, joined Xerox in 1991 after 27 years with AT&T. His organization, Industry Solutions Operations, is responsible for developing and delivering industry-specific document solutions to customers in North America and Europe. Romeril, 55, joined Xerox in 1993 from British Telecommunications in London, where he had served as group finance director since 1988. At Xerox, he is responsible for all finance, treasury, tax and audit aspects of the company, as well as its internal services and real estate operations. In addition, he is responsible for Xerox Technology Enterprises, which oversees emerging businesses; the company’s intellectual property unit; and Xerox Engineering Services. www.xerox.com

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