|
-- [ Picked text/plain from multipart/alternative ] IBM Names Palmisano to Replace Gerstner as CEO Reuters NEW YORK (Jan. 29) - International Business Machines Corp. on Tuesday named Samuel Palmisano chief executive officer of the world's largest computer maker, effective March 1 to replace Louis Gerstner, who was widely expected to step down this year. IBM also said John Thompson, who is vice chairman, will retire from the company and its board on Sept. 1. Gerstner, whose contract expires on March 1 when he turns 60, will remain chairman through the end of 2002. He is credited with turning the computer maker around in the 1990s. Palmisano has been expected to follow in Gerstner's footsteps since Palmisano was named president and chief operating officer in July of 2000. He retains his title as president, IBM said. IBM shares were off 3 percent, or $3.71, at $104.50 in midday New York Stock Exchange trading. ''Over the last decade, Sam Palmisano has taken on a number of IBM's most significant challenges, from building the services business to transforming our server line,'' Gerstner said in a statement. Gerstner joined IBM in April of 1993 and helped push the company to build its services business, which is now its largest division in terms of revenues. 12:56 01-29-02 Copyright 2002 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL. A. Ports
As an Amazon Associate we earn from qualifying purchases.
This mailing list archive is Copyright 1997-2024 by midrange.com and David Gibbs as a compilation work. Use of the archive is restricted to research of a business or technical nature. Any other uses are prohibited. Full details are available on our policy page. If you have questions about this, please contact [javascript protected email address].
Operating expenses for this site are earned using the Amazon Associate program and Google Adsense.