Paul Arthur Allaire was an American entrepreneur who served as CEO and chairman of Xerox Corporation, and as a director on several other public companies.
14 Facts About Paul Allaire
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Paul Allaire earned a Master of Science degree in industrial administration from Carnegie Mellon University in 1960.
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Paul Allaire was a trustee of both Worcester Polytechnic Institute and Carnegie Mellon University.
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On January 26,1963, Paul Allaire married Kathleen Buckley, with whom he had children, Brian and Christiana.
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Paul Allaire transformed the office of the president into a newly formed corporate office, with four executives dividing the responsibilities that usually fall under the president and chief operating officer.
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When Paul Allaire became CEO, Xerox had billions of dollars in insurance liabilities, so he methodically disentangled the company from property and casualty insurance and other financial-services businesses.
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Paul Allaire rolled out cost-cutting and new product technology introductions, including the first digital copier-Document Center.
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In 1994, Paul Allaire rebranded Xerox as "The Document Company" to signal its ambition to move far beyond copiers, as the growth of desktop computing stimulated huge increases in the number of documents being created.
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Paul Allaire earned a reputation throughout his Xerox career as a cost cutter who reorganized departments and increased market share.
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In 1997, Allaire hired G Richard Thoman from IBM as Xerox President and COO which positioned Thoman as the eventual successor, and this news caused the company shares to rise $2 to $71.75 on the New York Stock Exchange, after earlier touching a record $73.25.
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However, it has been reported that many of Xerox's senior executives including Romeril and Buehler remained loyal to Paul Allaire and viewed Thoman as an outsider.
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Paul Allaire retired as CEO on August 1,2001, being succeeded by Mulcahy.
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Paul Allaire remained chairman of the board until the end of 2001.
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Paul Allaire is a former member of the Steering Committee of the Bilderberg Group.