Barry Rand Departs Xerox.

STAMFORD, Conn.--(BUSINESS WIRE)--Nov. 13, 1998--A. Barry Rand, Xerox Corporation's (NYSE:XRX) executive vice president for worldwide operations, announced today he would leave at the end of the year to pursue external CEO opportunities.

Rand, 54, joined Xerox in 1968 as a sales trainee in Washington, D.C., and was named president of U.S. Customer Operations - now a $9 billion sales and marketing organization - in 1987. In 1989, during his tenure as USCO president, Xerox won the Malcolm Baldrige National Quality Award. He became an executive vice president in 1992 and assumed worldwide responsibility in 1996.

"Becoming CEO has been a long-held personal objective," Rand said. "When it became clear I could not achieve this at Xerox, I decided to pursue other opportunities."

He said that CEO Paul A. Allaire convinced him to stay on for a time to ensure a smooth transition after Allaire named his likely successor, G. Richard Thoman, as president last year. "That goal has been achieved," Rand said. "Xerox is in great shape and I am convinced the current direction will ensure continued success.

"I appreciate all Xerox has done for me and all it has allowed me to do for Xerox," Rand said. "I will miss Xerox, but this is the right decision."

"I appreciate and thank Barry for all he has done for Xerox over all these years," Allaire said. "His leadership and contributions have been truly significant and have made a real difference in the areas of customer focus, people and values - and financial results. "I particularly appreciate the support he has given Rick and me during this transition period," Allaire said. "He has been extraordinarily professional and leaves Xerox in great condition with an excellent management team. I will miss Barry both personally and professionally, and wish him every success in his new endeavors."

Rand is a member of the board of directors for Abbott Laboratories, Ameritech, Honeywell and the Urban Family Institute. He also serves on the Stanford University Graduate School of Business advisory council. In 1993, Rand was inducted into the National Sales and Marketing Hall of Fame.

He has a bachelor's degree in marketing from American University and a master's degree in business administration and management sciences from Stanford. He also holds several honorary degrees.

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