In her 31 years at Xerox, Anne Mulcahy has seen her fair share of ups and downs. But no period was more momentous for the former Xerox sales representative than the one that ended with her appointment to the top job at the office products group in 2001. With the company facing financial crisis, falling sales and a regulatory investigation, many wondered whether Xerox would survive. Ms Mulcahy confounded sceptics by cutting costs, shutting underperforming businesses and overhauling the company's strategy. Below she discusses Xerox's turnround, the role of women in business and recent events at Citigroup, where she is a board director.

Would it have been easier to restructure Xerox if it had been a private company?