Stephen Robert Elected to Xerox Board; Board Declares Dividends on Preferred Stock

Stephen Robert
Stephen Robert is a member of the Council on Foreign Relations and the Foreign Policy Program Leadership Committee at the Brookings Institution. He has served as Chancellor and Trustee of Brown University, where he earned his undergraduate degree. Additionally, Robert serves as a director of the New York Philharmonic and on the Board of the Santa Maddalena Foundation.

STAMFORD, Conn.–(BUSINESS WIRE)–Dec. 10, 2003–Xerox Corporation’s (NYSE:XRX) board of directors today elected Stephen Robert to the board. The board also declared quarterly dividends for the company’s Series B and Series C preferred stock.

Robert, 63, is the chancellor of Brown University, chairman of Robert Capital Management, LLC, and former chairman and chief executive officer of Oppenheimer Group, Inc. His election to the board is effective January 1, 2004.

“Stephen Robert is a respected and successful leader who brings to Xerox vast knowledge of global financial operations,” said Anne M. Mulcahy, Xerox chairman and chief executive officer. “His financial acumen will serve Xerox and its shareholders well as we continue to strengthen our position as a leading technology company.”

Robert joined Oppenheimer in 1968 as a portfolio manager of the Oppenheimer Fund. He became a partner in 1970 and a member of the executive committee and director of research in 1977. In 1979, Robert became president and, in 1983, assumed the role of chairman and CEO. He retired from Oppenheimer in 1998 and became chancellor of Brown University that year.

A graduate of Brown University where he earned a bachelor of arts degree, Robert is a member of the Council on Foreign Relations, director of the New York Philharmonic, former director of the Twin Towers Fund, director of the Educational Broadcasting Corporation, and a member of the Blackstone Alternative Asset Management advisory board.
With Robert’s election, Xerox’s ten-member board is now 80 percent independent, comprised of eight independent directors in addition to only one employee director, Anne Mulcahy, and one Xerox-affiliated director, Yotaro Kobayashi, chairman, Fuji Xerox Co., Ltd.

In other board actions today, a dividend of $1.5625 was declared on the Series B convertible preferred stock issued in connection with the Xerox employee stock ownership program, and will be payable Jan. 1, 2004, to shareholders of record on Dec. 12, 2003. The board also declared a dividend of $1.5625 per share on the 6.25% Series C mandatory convertible preferred stock issued last June. This dividend will be payable Jan. 1, 2004, to shareholders of record Dec. 16, 2003.

Note to Editors: For more information on Xerox, visit www.xerox.com/news. XEROX(R), The Document Company(R) and the digital X(R) are trademarks of XEROX CORPORATION.

Advertisements

Stephen Robert, Pilar Crespi Robert, Barack Obama

stephen robert, barack obama, pilar crespi robert
Stephen Robert and Former President Barack Obama

The founder of Source of Hope Foundation, Stephen Robert is the former CEO and Chairman of Oppenheimer and Company. Stephen Robert and his wife, Pilar Crespi Robert, established Source of Hope Foundation as a means of applying holistic approaches to the problems facing the global community. Focusing on sustainable aid programs that provide food, water, education, and healthcare to the developing world, Source of Hope Foundation provides humanitarian aid and emergency relief on four continents.

Source of Hope foundation is active in North and South America, Africa, and the Middle East. Working with NGOs and private foundations, Stephen Robert has funded training and education for underemployed youth throughout the world. Recognizing the crisis stemming from the economic hardships and lack of socioeconomic mobility in much of the Middle East, Stephen Robert has worked with organizations such as Mercy Corps to help bring knowledge-based economies to the third world.

As Chairman and Co-Chief Executive Officer of Source of Hope Foundation, Stephen Robert believes that increasing the economic growth of a region helps create a civil society and provides conditions that are more favorable for a lasting peace. Working with Google.org, Source of Hope Foundation is helping to establish Web-based businesses in areas where mobility is restricted. Identifying Gaza and the West Bank as untapped locations for the growth of information technology businesses, the foundation has helped fuel the growth of tech sector jobs in a region where the overall economy has declined.