IBM's Watson offers personal view of the company's recent difficulties
Article Abstract:
Thomas J. Watson Jr, the revered retired chairman of IBM, says he is 'very sad' about the difficulties the company is currently undergoing. Watson expresses a great deal of admiration for embattled Chairman John F. Akers, but says all American companies will have to learn to develop and market products much faster in the world of the future. Watson and his father, who was hired to run IBM in 1914, made IBM famous for its mainframe computers, but the younger Watson now says the company may not have moved quickly enough into the personal computer market. Though no longer on the company's board and with only a small holding of IBM stock, Watson, 78, still drops by IBM's headquarters in Armonk, NY, every few days to see how things are going. Reportedly, Watson's support of Akers has been a key to the chairman holding onto his job.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Cost-cutting banker is named by IBM to oversee personnel reorganization
Article Abstract:
IBM names Gerald Czarnecki, 53, to a broad staff position in charge of personnel and administration. Czarnecki is expected to aggressively retool one of the most paternalistic companies in America. In his most recent position, as chairman of Hawaii's HonFed Bank, Czarnecki helped turn around the then-ailing thrift by slashing one-third of the workforce and dumping a big real-estate portfolio. Czarnecki's appointment is surprising, because he has had scarce direct experience with high technology or personnel. Reportedly, new IBM Chmn and CEO Louis V. Gerstner wanted a 'chief of staff' who would play an integral role in transforming IBM's organization and strategy. Eugene Croisant, the chief of personnel and administration at RJR Nabisco Holdings Corp under Gerstner, recommended Czarnecki to the new IBM chairman.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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