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Politics : Formerly About Applied Materials

AMAT 256.40

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Dec 19 3:59 PM EST

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To: StanX Long who wrote (59679)	1/30/2002 4:06:59 AM
From: StanX Long	Read Replies (2) of 70976

In case someone is interested in IBM, G. ;0\| IBM names new chief executive news.bbc.co.uk IBM has emerged from tough times in the 1990s International Business Machines, the personal computer giant, has said Samuel Palmisano will take over as chief executive as of 1 March. He will replace Louis Gerstner, whose contract expires on that date when he reaches 60. [Lou Gerstner] led IBM back from its darkest days. He transformed the company's culture and reignited growth Incoming CEO Samuel Palmisano Mr Gerstner, who will continue as chairman, is widely credited with restoring the company's fortunes during the 1990s. Mr Palmisano, named IBM president and chief operating officer in September 2000, had been widely expected to succeed Mr Gerstner. He will retain his role as president, IBM said. IBM shares dropped 4% to $103.79 in trading immediately following the announcement. Worst year "I feel very fortunate to succeed Lou Gerstner as CEO," said Mr Palmisano. "Against all odds, he led IBM back from its darkest days. He transformed the company's culture and reignited growth." IBM also announced that vice-chairman John M Thompson would retire from the company and board on 1 September.

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