This story requires our BI Prime membership. To read the full article,The announcement that Ginni Rometty was retiring as CEO of IBM was long-awaited, but still came as a surprise given the timing.
Earlier this month, IBM announced earnings that were ahead of estimates, in a positive sign that Rometty's strategy was bearing fruit. In the days that followed IBM's good news earnings announcement, pundits and analysts were still calling for her head, and the stock gains were short lived.IBM on Thursday announced that CEO Ginni Rometty was going to retire from the CEO role in April, and named 29-year veteran Arvind Krishna as her successor. Rometty will stay on as executive chairman through the end of 2020.
She also made a point of emphasizing "margin expansion," meaning that IBM was now making more profit from its younger, higher-growth units, too.
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