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Anne Mulcahy, 50, Chairman and Chief Executive Officer, Xerox, is the world's sixth most powerful businesswoman, according to Fortune magazine.

Mulcahy is the first woman CEO of Xerox, and she won this position due to her extraordinary performance as the firm's president and chief operating officer.

She brought the company back from the brink of bankruptcy, revamping Xerox's global operations that resulted in a $1.7 billion cut in costs.

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