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IBM CEO Virginia Rometty Now Takes Chairman Role Too

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By Jon C. Ogg Updated Published
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It was big news when International Business Machine Corp. (NYSE: IBM) first reported that Virginia Rometty would take over as chief executive officer. It was not just that CEO Sam Palmisano was a Big Blue legend, but it was big news because a woman was taking over as CEO in one of the world’s top technology outfits.

Now Ms. Rometty will be taking over Palmisano’s role as chairman in addition to her CEO title. She has been CEO since the start of this year and Palmisano’s date to step down from the board is October 1 even though he will remain a senior advisor there at IBM until his official retirement date of December 1.

Palmisano was credited with the decision to dump the PC-unit in a sale to Lenovo and that was long before Apple Inc. (NASDAQ: AAPL) started on taking significant market share from PCs. Palmisano saw that the fight between Dell Inc. (NASDAQ: DELL) and Hewlett-Packard Co. (NYSE: HPQ) was only going to get worse as the marketplace also has to deal with Acer and others.

It will be very difficult to compare the next ten years to the prior ten years as IBM’s market cap is now $234 billion. The company is still buying back stock, increasing its dividend, and is still targeting $20.00 per share in earnings in 2015.

In the coming days, Rometty will be running the whole show at IBM.

JON C. OGG

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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