IBM's short list in search of a chief dwindles once again
Article Abstract:
Motorola Chmn George Fisher says he is not interested in replacing John Akers as chief executive officer of IBM. Apple Chmn John Sculley, AlliedSignal Chmn Lawrence Bossidy and retired HP CEO John Young had earlier taken themselves out of the competition. Two executives under consideration who have not ruled themselves out are Perot Systems Corp's Morton Myerson and RJR Nabisco Holdings Corp's Louis Gerstner. RJR Nabisco directors are said to be considered about the possibility of losing their 50-year-old chief executive to IBM. Choosing Gerstner, who has relatively little IBM experience, would be a controversial move for the IBM search committee. Partners of Kohlberg Kravis Roberts and Co, RJR's controlling shareholder, are said to be appealing to Gerstner's sense of duty to improve the company's prospects before leaving.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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IBM's new chairman shuns tradition as he puts together his own team
Article Abstract:
New IBM Chmn Louis V. Gerstner Jr rejects such company traditions as the 'M.C.,' or six-man management committee. Gerstner also wants managers to talk to him directly, without the aid of audio-visual equipment. He has asked each division head for a short report on the status and problems of their business. New hires include communications vice president David Kalis, who worked with Gerstner at RJR Nabisco Holdings Corp; personal assistant Isabelle Cummins; and Adstar Chmn and CEO Ed Zschau, a former Silicon Valley executive and congressman. IBM has been aggressively turning AdStar, which makes disk-drives, into an autonomous business; Zschau's appointment fuels speculation that IBM plans a sale or public offering for the unit. Associates say Gerstner will probably not make any major proposals before summer 1993.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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IBM won't get two key aides of Gerstner's
Article Abstract:
Soon-to-be-appointed IBM Chmn and CEO Louis V. Gerstner Jr promises partners of Kohlberg Kravis Roberts and Co, which controls RJR Nabisco Holdings Corp, of which he is presently Chmn and CEO, that he will not take RJR CFO Karl von der Heyden and general counsel Lawrence Ricciardi with him to his new company. RJR is now expected to fill Gerstner's former positions from within, while Gerstner will assemble a new team of managers at IBM. IBM is expected to formally announce the appointment of Gerstner on Mar 26, 1993. Gerstner disclosed to KKR founding partners George Roberts and Henry Kravis on Mar 23 that he was a leading candidate for the IBM positions. By Mar 25, executives at both KKR and RJR has agreed that von der Heyden and Ricciardi would stay at RJR.
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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