Overachiever devoted to change: Louis Vincent Gerstner Jr

Article Abstract:

Louis Vincent Gerstner Jr, IBM's new chairman and CEO, is known as an overachiever and as a quick study of complex business issues. A product of the Harvard Business School, Gerstner is a respected management strategist who joined the top rate consulting firm McKinsey & Co when he was 23 and became a partner in just over five years. As executive vice president of American Express in 1978, Gerstner was able to overhaul its credit card franchise. He later became president of American Express. In 1989, he joined RJR Nabisco and successfully pared down the company's expenses and debt. Associates say that he is the type who will promote people who have ideas considered unconventional for IBM. Gerstner himself says that taking over IBM is an irresistible challenge for him and that he has never been a person who plays it safe.

Prepackaged software, Management, Chief executive officers, Gerstner, Louis V., Jr.

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I.B.M. officer will retire; pay cuts due

Article Abstract:

IBM's George H. Conrades, a former chief of US sales and marketing and head of marketing at IBM's corporate headquarters, will retire on March 1 1992. Conrades had been considered a serious candidate to become chairman of IBM until he was demoted in November 1991. Conrades is the second top executive at IBM to leave the company within one week. IBM is also cutting the salaries of many of its top executives due to the reported losses for 1991. Chairman John F. Akers will receive a 40 percent pay cut, while four other major executives will receive pay cuts of 40 percent or more. Executives with titles of vice president or above will receive either 10 percent or 20 percent cuts. IBM's 1991 losses are the result of several one-time charges that pay for a cost-cutting program and for retiree benefits.

Office machines, not elsewhere classified, Officials and employees, IBM, Ethical aspects, Wages and salaries, Cost control, Salary, Executive, Personnel Management, Cost Reduction, Reorganization, Resignation, Conrades, George H.

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