October 26th, 2011
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Virginia to be IBM CEO

IBM-CEONew York: Virginia M Rometty will be IBM’s new CEO, the directors announced today. She is Currently a senior vice president at IBM and will succeed Samuel J. Palmisano, 60, who will remain as chairman, at the start of next year. She has led strategically important divisions of the company as it has shifted to services and products with high profit margins, like software that mines vast troves of corporate and online data for sales and cost-saving opportunities.

The selection of Ms. Rometty for the top job at I.B.M. will make her one of the most prominent women executives in corporate America, joining a small group of chiefs that includes Ursula Burns of Xerox, Indra Nooyi of PepsiCo, Ellen J. Kullman of DuPont and Meg Whitman of Hewlett-Packard.

The directors’ choice of Ms. Rometty, who managed a crucial merger as well as sales in fast-growing new markets, ends a competition that has been under way for years. The leading candidates were always from within the company’s executive ranks. A leading rival to succeed Mr. Palmisano, analysts say, was Steven A. Mills, the senior vice president who led I.B.M.’s highly profitable and growing software division. But his age, analysts note, was probably an obstacle. Mr. Mills has just turned 60, the traditional retirement age for IBM chief executives.

 

 



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