Recall that Ursula was the Special Assistant to Paul Allaire -- thats where she began her big climb. Once promoted from President to CEO, Allaire abolished the role of President to concentrate power. Ursula learned from that. Allaire of course, was a crook - see the SEC history on Xerox in the late 90s. Ursula just appears to be incompetent, but not a crook.
However, as noted above, the BOD of XRX is no brain trust. They are not all that tuned into making money for the company, just themselves. Stay away is all I can say.