Newly-Named Xerox CEO Ursula Burns Keeps Eyes on the Real Value HENRIETTA, NY (WXXI) - Newly-named Xerox CEO Ursula Burns addressed the graduating class of RIT Friday.

Burns, who was named CEO on Thursday, was awarded an honorary doctorate by the university.

Afterward she told reporters that it has not sunk in that she's the first African-American woman to head a Fortune 500 company. Burns says she's using the long holiday weekend to keep her head on straight and to focus on what is really the value. When the novelty wears off, she says "it's really back to work...It's not about Ursula, it's about Xerox."

Burns acknowledged that Xerox, like all companies, is facing some difficulties in the currently economic climate. But she says Xerox is in a better position that most to meet those challenges.

Current CEO Anne Mulcahy will retire as CEO on July first.

Burns joined Xerox as an engineering intern in 1980. She was named president two years ago.

Mulcahy will remain as chairman of the company. © Copyright 2009, WXXI