IBM's Ginni Rometty is stepping down as CEO
In corporate news. IBM says its longtime CEO. Genie is stepping down effective April. Sixth Rometty has served in that role since two thousand and twelve eight years Arvind Krishna. I know it's been tapped as her successor. IBM says remedy will remain executive chairman through the end of the year the stock rising on the news. Oh here's a look at how. IBM shares have performed under remedies tenure. In the eight years but she will have been there through that time under the during that time we could see right there. It's down by about about twenty three percents it's been a a saga and it involved. It involved massive turnaround people like Warren Buffett. Who probably I believe when he was in the stock and I I've had some other people? I guess I won't go into people that all along said look. The revenue is not is not rising zing. And it's not goodbye hit other people and I think Jeff's Asana thought it was gonNA come out and make the case. It was very difficult to position. IBM for the future is in a difficult spot. Somebody said to me you didn't think about it. Initially someone said Oh. Is this a laugh glass cliff situations and I said I don't think so from you know they talk about. Sometimes when women are put in positions of companies how position on fixable position with Yahoo far they wrote articles about Mary Barra being put in this position. GM borrows done very well or this is at the time when she got the job. You would have never known how difficult it was ask. Because their predecessors appeared to be rockstars and yet they really left her holding the bag the whole time was trying to get rid of what she called. The was at the calories Sir revenues revenue that was not profitable and that was not going to be. This isn't even trying to transition like a Microsoft future. which was when did that camera? Nineteen eighty eighty or something this the fifties and sixties in big blue and John Acres and it had had to be repositioned a couple of times. Already Gerstner I had to come in Palmisano. Had to come in and turn it around so I mean have. IBM to even know what it is anymore. How about digital equipment? Anyone remember member digital equipment. How about data general about signed computer? How about what was that? Novell remember the biggest high flier in the world was novell and they're just totally elite. It's been tough and there are some people that think with Whiter. Seren Red Hat. Maybe it's position well for the future so I don't think we can. We can talk. I take away. Yes sharing that in Sonnenfeldt said that's not the first time journal says that's an interesting issue but how to measure her tenure. You're by the way you should. I mean you probably have the same emails than I did. There's so many people in the CEO Community who love her Jamie diamond. Tim Cook I mean the list goes on and on I think talking do. She's on the show. This is round table with Jamie but in terms of measuring her legacy legacy. You're either gonNA say she kept the company alive at a time when it was a real struggle or if you if you have a less generous view she didn't do what you what could have done so counterfactual I mean you really have to think you're in a position to take one of these legacy company that has a mainframe in frame or whatever it was. There's a lot of examples of companies that do something in the old days. They didn't become facebook Google. They didn't become even Microsoft. They didn't try new. Oh companies seem to take that man with guys in the guys in their garage. Just tell del there in the garage and they figure it all out under subtly. It's even better than the previous thing and even have. IBM still around in playing in the cloud as a viable competitor. And I don't know I don't know how to measure.