NEW YORK – Sam Palmisano, Chief Executive Officer (CEO) IBM will resign at the end of 2011. Position will be replaced by Virginia M. Rometty (Ginni Rometty), elected by the board of directors of IBM.
Succession in this IBM will run smoothly. Ginni will also enter into a member of the board of directors after taking office later. Ginni is currently senior vice president and group executive for sales, marketing and strategy of IBM.
“Ginni successfully led some of the important business of IBM in the past decade, and able to build a growing market units. She was more than outstanding operational executive. With each new leadership role, she has triggered us to follow the needs and aspirations of our clients by deepening their expertise and knowledge of the industry,”said Palsimano.
Palsimano added, Ginni has a unique combination of vision-mission, was able to focus onclients, and to give unremitting passion to employees working professionals. Palsimano believes Ginni election as CEO is the right choice, because she is a figure of an ideal leader. Ginni is also included leaders instrumental in the success of IBM to develop cloud computing.
Ginni joined IBM in 1981 as a systems engineer. She holds a Bachelor of Science degree with high esteem in computer science and electrical engineering from Northwestern University. Having served as global sales leader for IBM, Ginni (54) succeeded in making the company has sales exceeding 99 billion U.S. dollars in 2010. She also responsible for leading IBM’s global strategy for marketing, and communications functions.
Ginni has also served as senior vice president of IBM Global Business Services. In that role, she successful make the largest acquisition by consulting firm Pricewater house Coopers Consulting, which makes IBM has a global team of more than100 thousand business consultant and expert services. Ginni has also served as general manager of IBM Global Service America, Global Insurance and IBM Financial Services . She will recorded as the first woman who served as IBM CEO.
While Palmisano (60) became IBM CEO in 2002 and chairman of the board of directors in 2003. During his term, IBM has a high investment to commodity businesses, including PCs, printers and hard disk drives. He has overseen a significant expansion of IBM in emerging markets, like China, India, Brazil, Russia and dozens of other developing countries, and successful transform IBM from multinational companies become globally integrated enterprises. In 2008, he launched IBM’s Smarter Planet strategy, which describes the company’s view on the next era of information technology and its impact on business and society.
Since Palmisano became CEO, IBM has set records in pre-tax income, earnings per share, and cash-flow stream. During the period Palmisano, IBM’s EPS (Earning per Share) increased almost five times, resulting in more than 100 billion U.S. dollars in cash-flowstream, and invested more than 50 billion dollars in research and development, and create more than 100 billion U.S. dollars shareholder value from 2002 through increased market capitalization and dividends paid.