IBM shake-up by CEO claims another official; Gerstner's reorganization turns to management; more departures seen
Article Abstract:
IBM Chmn Louis V. Gerstner Jr. is implementing a broad reorganization plan that is reaching the upper ranks of the company, resulting in the unexpected departure of another key executive and possibly more resignations to come. Former senior VP of sales Robert LaBant announced his departure from the 35,000-strong US sales unit after learning he was not selected to run a newly combined worldwide sales unit. Ned Lautenbach, his counterpart in international, was tapped to run the unit. LaBant's unexpected departure comes at the same time Ellen M. Hancock, another senior VP, announced her resignation when a rival was given the top job in a newly organized software division. The resignations follow the departure of IBM's treasurer Frederick Zuckerman, which was also considered a surprise move. The changes are considered some of the most drastic Gerstner has imposed since he took the job at IBM and indicates his new focus on upper management.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1995
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IBM's search for new leader appears ahead of schedule
Article Abstract:
IBM insiders say the search of an new chief executive officer could be completed ahead of schedule, by late Mar 1993. Reportedly, IBM and its two executive-search companies have begun discussing a half-dozen finalists. The short list is believed to include RJR Nabisco Chmn Louis Gerstner, Motorola CEO George Fisher and Perot Systems Chmn Morton Myerson. Apple Computer Chmn John Sculley has also been considered a serious candidate; reportedly, though, Sculley has said that he is not interested in the job. Another widely discussed candidate, Northern Telecom Chmn Paul Stern, is believed to be meeting resistance from some key IBM executives. A variety of other executives, including Microsoft Chmn Bill Gates and Walt Disney Chmn Michael Eisner, have said that they are not interested in the job.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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