IBM appoints Henkel to head European unit
Article Abstract:
IBM appoints Hans-Olaf Henkel as the company's top executive in Europe. Henkel managed IBM's German subsidiary, a division which earned 39 percent of the company's $64.52 billion in revenue in 1992. Henkel proved himself as a tough taskmaster while in that position. He is not expected to influence IBM's current business strategy in his new post, however. Henkel succeeds Renato Riverso, who had been expected to retire. Pierre Hessler, Henkel's strongest competition for the position, resigns and joins IBM competitor Cap Gemini Sogeti SA of France. Analysts speculate the move is the result of being overlooked for the position, although IBM representatives deny any connection to Henkel's appointment. Henkel serves as Riverso's deputy until early 1994, when he takes over the job.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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IBM picks Riverso for top position in European unit
Article Abstract:
For the first time since the mid-1980s, a European heads a major computer company's operations in Europe, with the appointment by IBM of Renato Riverso. The Italian-born Riverso becomes chairman of IBM's operations in Africa, the Middle East and Europe. His European origins are not the main reason he is being promoted, but that fact may help IBM in its sometimes difficult relationships with Europe's political leaders. Riverso takes over European operations from senior VP David E. McKinney as IBM's international position is declining. The company lost revenues as measured in French and British currencies. McKinney returns to IBM headquarters in Armonk, NY to take on a position as general advisor to Chmn John Akers on cost reduction methods.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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McKinney Excels as IBM's Europe chief but faces test from slowing demand
Article Abstract:
IBM named David McKinney for its top job in Europe in 1988, but slower computer demand in Europe and slower economies may make the computer manufacturer's fragile European recovery more difficult. IBM's European operations constitute one-third of its revenue, and sales of a few key products, such as the AS400 minicomputers, are especially at risk. Analysts predict 11 percent growth in European computer hardware sales in 1990, down from 17 percent in 1989 and 20 percent in 1988. McKinney is optimistic, saying the economy looks good in Europe and predicting that the industry will continue to grow.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1989
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