Ginni Rometty's dubious record — but excellent pay — at IBM
Let us pause to say orisons over the career of Virginia Rometty as CEO of the computing behemoth IBM.
On Friday, when the broad market gave up 1.77% largely on coronavirus fears, IBM gained more than 5%, closing at $143.70. It’s reasonable to take the gain as a signal that investors are hoping for better results under new management.Rometty’s reign included one stretch of 22 straight quarters of declining revenue. That run finally ended in the fourth quarter of 2017, but the company’s annual results continued to be dismal.
Overall, the company was in troubled condition for most of Rometty’s tenure. One reason was that it was unable to keep up with competition in cloud services, the flavor of the decade in the information services field.
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