IBM CEO Rometty to step down in April, cloud SVP Krishna to take over

Posted:
in General Discussion edited January 2020
IBM CEO Virginia "Ginni" Rometty, who helped architect a fruitful enterprise partnership with Apple, on Thursday announced her retirement after more than four decades at the company.

Tim Cook and Ginni Rometty
Ginni Rometty and Tim Cook in 2014.


Rometty will step down as chief executive of Big Blue on April 6, when board-elected replacement Arvind Krishna, currently IBM's SVP of Cloud and Cognitive Software, will take the reins, the firm said in a statement.

"Arvind is the right CEO for the next era at IBM," Rometty said in a prepared statement. "He is a brilliant technologist who has played a significant role in developing our key technologies such as artificial intelligence, cloud, quantum computing and blockchain."

Krishna, who has worked at Apple since 1990, played an integral role in executing a $34 billion acquisition of software giant Red Hat last July. Red Hat CEO and IBM SVP James Whitehurst has been tapped by IBM's board to serve as president.

Rometty served as CEO since 2012 when she replaced outgoing chief Sam Palmisano. Under her guidance, IBM acquired 65 companies, developed AI technologies including Watson and built out hybrid cloud, security, industry and data technologies.

In 2014, Rometty negotiated an unlikely partnership with Apple that sought to revolutionize mobile device deployment in enterprise. Marketed under the IBM MobileFirst banner, the initiative combined iPhone and iPad with custom-made iOS apps designed by IBM and supported by its backend technologies.

Rometty will continue as executive chairman of IBM's board through 2020, at which point she plans to retire after more than 40 years at the company.

Comments

  • Reply 1 of 15
    Rayz2016Rayz2016 Posts: 6,957member
    May she enjoy a long and happy retirement. 

    mdriftmeyerfastasleep
  • Reply 2 of 15
    Rayz2016 said:
    May she enjoy a long and happy retirement. 


    She's an exceptional CEO. Lisa Su and her worked both for IBM. The talent pool there is never anything but deep.
  • Reply 3 of 15
    wood1208wood1208 Posts: 2,917member
    Didn't happen sooner. Look at S&P vs IBM performance under Rometty's leadership. Leadership always matters!!! Apple,Microsoft,AMD,....
    edited January 2020
  • Reply 4 of 15
    Big Blue is Copying Microsoft. 
  • Reply 5 of 15
    Rayz2016 said:
    May she enjoy a long and happy retirement. 


    She's an exceptional CEO. Lisa Su and her worked both for IBM. The talent pool there is never anything but deep.
    The stock price was ~$200 when she took over as CEO in 2012. It’s $133 at the end of the regular trading day today. A one-third loss. That is not ‘exceptional’ in my book, not by a long shot. Except for value-destruction on a massive scale. 

    IBM’s stock price jumped 6% on the news after-hours (when I last looked). 
    d_2acheron2018
  • Reply 6 of 15

    Big Blue is Copying Microsoft. 
    I agree. They’re hoping Krishna’s a Nadella. From what I’ve heard, he could well be.  
  • Reply 7 of 15
    jccjcc Posts: 327member
    Rayz2016 said:
    May she enjoy a long and happy retirement. 


    She's an exceptional CEO. Lisa Su and her worked both for IBM. The talent pool there is never anything but deep.
    The stock price was ~$200 when she took over as CEO in 2012. It’s $133 at the end of the regular trading day today. A one-third loss. That is not ‘exceptional’ in my book, not by a long shot. Except for value-destruction on a massive scale. 

    IBM’s stock price jumped 6% on the news after-hours (when I last looked). 
    Agreed, she’s another CEO who doesn’t know anything about technology. She’s a great bureaucrat, nothing else. In technology you need someone with vision. To be able to see what to develop next. She clearly had no clue.
    anantksundaramacheron2018
  • Reply 8 of 15
    Krishna, who has worked at Apple since 1990, played an integral role in executing a $34 billion acquisition of software giant Red Hat last July. Red Hat CEO and IBM SVP James Whitehurst has been tapped by IBM's board to serve as president. 


    Typo above - not Apple, but IBM ...
  • Reply 9 of 15
    It’s so interesting the heads of Microsoft, Alphabet and IBM will all be Indian now. Congratulations. Some seriously accomplished individuals.
    anantksundaram
  • Reply 10 of 15
    Rayz2016Rayz2016 Posts: 6,957member
    It’s so interesting the heads of Microsoft, Alphabet and IBM will all be Indian now. Congratulations. Some seriously accomplished individuals.
    What's really interesting is that you brought it up. 

    Interesting, though not actually surprising.
  • Reply 11 of 15
    It's nice to see her go just as IBM begin to turn the corner upwards. I think she definitely achieved the turn around the company needed (even if there were some fumbles along the way of redefining what IBM was to become.)
  • Reply 12 of 15
    1st1st Posts: 443member
    40 years in IBM survive with AI targeted downsize, rare talent indeed. wondering what take it so long for IBM cloud to shine from "behind" - 2009 IEEE ECTC pannel IBM outlined  well for cloud vision, someone at top lost its sight somehow.  as a shareholder since 90s, definitely not achieve well as CEO (especially, last 8 yrs).  IMHO.  
    acheron2018
  • Reply 13 of 15
    From another point of view, this could be great timing for Apple to buy IBM.
    anantksundaram
  • Reply 14 of 15
    canukstormcanukstorm Posts: 2,719member
    Rayz2016 said:
    May she enjoy a long and happy retirement. 


    She's an exceptional CEO. Lisa Su and her worked both for IBM. The talent pool there is never anything but deep.
    So did Tim Cook.
  • Reply 15 of 15
    canukstormcanukstorm Posts: 2,719member
    From another point of view, this could be great timing for Apple to buy IBM.
    Apple is a consumer company.  Why would they buy IBM? Besides, under Rometty's leadership, IBM signed an exclusive enterprise deal with Apple.
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