Word: gerstner
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These guiding principles led IBM from near-bankruptcy in 1993 to an over $85 billion corporation today, said its former CEO Louis V. Gerstner Jr. last night at the Kennedy School of Government’s ARCO Forum...
...explain IBM? Big Blue is no house of cards. Recently departed CEO Lou Gerstner turned a flabby dinosaur into the nation's biggest tech survival and revival story by transforming it into a lean-and-mean IT services company. And he did it just as a nation of IT purchasers, their budgets gone bust, needed services most of all. The result: IBM emerged from the tech downturn with loyal customers, long-term service contracts, high earnings and low costs...
...Lazarus, for instance, still recalls that when she was starting out at the Ogilvy & Mather ad agency, she received a surprise visit from boss David Ogilvy. He asked Lazarus, who was eight months pregnant, how she was doing and what her career aspirations were. And when IBM CEO Lou Gerstner--a notorious tough guy--first came aboard to lead a turnaround in 1993, he took a democratic route, relying on "advice from colleagues who knew a heck of a lot more about IBM and this industry than I would ever know...
...last few years, corporate chiefs such as Microsoft's Bill Gates and IBM's Lou Gerstner became global celebrities--boosting brand awareness through frequent public appearances. Is the age of the celebrity CEO over? "Their risk profile just went up exponentially," says Jules Kroll, head of the security firm Kroll Associates. But most identifiable CEOs are already well protected, he says. It's other executives who aren't. "Some of the wealthiest people in the corporate world shun security," says Kroll. "They could use more...
Fiorina and Compaq CEO Michael Capellas spent the week trying to assure everyone that the math would add up to 3. To get there, she could do worse than to follow in the footsteps of Lou Gerstner. The IBM chief inherited a company torn by turf wars and paralyzed by too many products in the early '90s. Gerstner healed wounds, cut the sprawl and scaled back the low-margin consumer-PC business, focusing instead on supremely stable high-end servers and the lucrative service contracts that came with them. "IBM is proof that it can be turned around," says Tony...