Ursula Burns stepping down as CEO of Xerox, named as chairman of post-split document business

Ursula Burns will be stepping down as CEO of Xerox later this year.

Burns has headed the company since 2009 – she was the first black woman to lead an S&P 500 company.

Burns announced late last week that she will be relinquishing the CEO position when Xerox splits in two later this year.

Xerox said Friday that after the split, Burns will become chairman of a newly formed Document Technology Company, which will include its printer and copier business. The second company will focus on business process outsourcing, providing payment processing and other services.

Burns, joined Xerox as an intern in 1980 and stayed with the company for her entire career, rising through the ranks and eventually to the helm of the company. She will continue in her current role as chairman and chief executive officer of Xerox until the separation is complete.