IBM Senior Executives are supposed to retire/leave at age 60. Ginni is there and IBM needs her gone. IBM needs some young new blood in the Senior Executive levels and the current wave of Senior Executives jumping from the sinking ship, IBM, proves it. Replace Ginni with new blood or even with a modified WATSON system and IBM will start to grow, quickly.
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Ginny gets credit as the worst female CEO of all time. She literally destroyed IBM and failed to leverage a massive sales channel to sell SaaS applications she could have bought rather than buying IBM stock back to line her own pockets. ON her last day at IBM she broadcast from her living room with all it's expensive original artowkr and chinese urns on the fireplace mantel! Let them starve! Lay the workers off! Screw the customers who chose IBM software! Ginny got her millions and she could care less! Fire her completely and remove that incompetent piece of trash from the IBM board! Oh and don't forget to take her 401K match away like she did for 300,000 IBM employees!
Ginni Rometti was the Davos globalist's token-woman Fortune 100 CEO. IBM was their progressive experiment. She was untouchable no matter how bad she was. Her job was to maintain the IBM dividend. It's too bad that IBM didn't find a strong, competent outsider CEO 5 or 6 years ago.
IBM could've been a leader in Cloud. Now it will suffer a steady decline into total irrelevance. Being in 5th place in the customer's perception in the public cloud and not in the Gartner leaders magic quadrant pretty much spells doom. How could this disaster happen? It all falls on the shoulders of Ginni Rometti and also the new CEO, Arvind Krishna who was in charge of cloud before this CEO promotion. IBM seems addicted to failing.
As a shareholder, we endured 8 years of incompetence, everybody suffered due to Her lack of abilities, shareholders, employees, etc. Now as she walking out the Door, she is pledging to change the culture. It is comical, She is lucky she had a Board of Directors who did not make her accountable
picket the board of directors offices and homes
Ginni Rometty needs to go. Before that major changes need to be made to the Board of Directors before IBM can turn around. Worthless Board of Directors. Both of these should have happened at least when Warren Buffet withdraw his investment from IBM.
As Rometty rakes in millions of dollars from salary and bonuses..thanks to the clueless board of directors who are compensated $300,000 per year..the Ibm stock keep on sinking..Wake up and smell the coffee.
Must go home ... after years of missing results, why is he still there? He had interrupted the sectors that made IBM rich ... to approach totally useless solutions for customers, also falsifying the company (even more) negative results to try to maintain the position.
I would like to know why nobody speaks up during the shareholder meetings? If you’re a stockholder you are complicit in her reign of terror.
I am stunned that IBMs board has been so irresponsible in its duty to the employees and stock holders. First all we heard was "stock holder value" above all else.. as employees were laid off to hold the stock price- now.. we dont even have that. Ginni has failed both the employees and the stock holders and has done so for more than 20 quarters. When will it end.. its insulting already. If Ginni had any character at all she would resign.. quickly
Someone correct me please if I'm wrong. When Rometty took over as CEO, IBM stock was trading around $212/share. Where is it trading today? How long would you or I have a job where we underperformed? Six, twelve months max? Why is she still there?
Omg this lady. She should have been fired years ago. Year after year of disappointing results and no consequences. Of course, she continues to benefit financially. What is wrong with this board of directors? Shareholders, rise up!
Rometti has ruined IBM. She stole our future security. One of the most incompetent leaders in American business. Give her a new job like sweeping the parking lot.
She’s buying Red Hat and paying a 60% + premium ! Seriously? She is so past her time to quit. She is desperate and totally clueless. Worst CEO ever. I beg the board to fire her. As an investor its miserable. Most will never recover. I suppose her next brilliant move will be to cut dividends.
Her contract is up in May ‘19.
Who comes in next could be worse.
Clueless. The most navel gazing company in the Dow. Happy to be in 5th place in a commodity (cloud services). Most of the “Watson” products failed or are failing due to lack of understanding of client businesses, competition, and product development. It will take years to root out the incompetents Ginni installed. What more evidence does the board need?
It is no wonder that the board of directors is not dumping Rommety..they do not want to lose their stipends of $300,000 per year for attending a dozen meetings per year..they all should be voted out!!i
IBM use to be a place of value and integrity. Now the company is screwing the paying customers for retained executive salaries / Bonuses (bleeding the company with millions of dollars in cashed stock options). Cutting lower tiered employees in customer facing job. Forcing customers to deal with cumbersome automation or lower skilled / motivated offshore resources. Definitely time for a change in the top tiers of leadership.
For a company that prides itself on ranking performance on merit, it seems so hypocritical to keep
rewarding Ginny with a job and a massive bonus, while the company flounders year after year.
The BOD seems to have forgotten their role in seeing to the health of the company, and that starts
from the top down. If it's not obvious to all of them that this CEO needs replacing, then they should
all be ousted too.
Whoever is voting their shares for this management team is ignoring the problems, and dragging
out the inevitable. Get it done NOW!
I don’t know one single member of the exec leadership team that has added value - most came in with the mind to turn the ship around, but got s---ed into the vortex of extensive cadencing, manipulating numbers and playing the internal competitive game of pitting one business unit against another to avoid Ginni’s fear tactics through spotlight management. They have all overstayed their welcome and dragged down the health of the business in the meantime. They can’t bring themselves to leave, because the benefits and salaries are too good. They’re all just collecting their paycheck and s---ing the company dry, making good money to eventually collect retirement, while the future of the company will be left in a sad state and passed to the next generation to clean up over and over... At the end of the day, no one is truly putting the business first - and that is the biggest problem of all.
Ginni's got to go! And the sad thing is that all those IBM cloud commercials feature the mission-critical systems that run big industry and government---mainframes (the hidden figures). Of course, not in the commercial, but that's what runs big organizations. So where is the mainframe in the cloud? Oh, right, it ain't! Come on Ginni, show some respect for the systems that covers payroll and research! Oh, and I dare you---dare you--to disclose revenue for Watson or blockchain.
It's time. She needs to go. Having a new injection of C-Level players along with some new BofDs would immediately help the stock. However, being a former IBM Sales Rep, working for a competitor, I can honestly tell you most companies aren't even considering IBM for anything. If you were a CIO what comfort level do you have buying products or services from a company making all these cuts over the past 4-5 years? A CIO would naturally wonder ... is IBM allocating the proper monies to support the products or services under consideration? So, in my opinion, they have a long way to go to instill buying confidence. In the meantime, I must say, I'm taking advantage of this. Lets face it. You can only re-engineer your stock price, cut and or re-balance staff so far. Finally forcing "50+ something" employees is going to backfire. As we all know IBM is targeting Millennials to hire. You don't think Millennials are aware of what's going on? You don't think they have parents, uncles, aunts, neighbors, etc. who have/are working at IBM to reach out to before they consider joining? If they do decide to join they know going in it's their job to learn as much as they can and as fast as they can before bolting outside IBM for a new position. THINK about it !
I agree. The people with the power to fire her must be getting what they want. Whatever that is, because it is not a healthy company.
It should be obvious by now that the
BOD is not interested in a long-term future for IBM as it exists today.
Where else but IBM, could someone take a 100+ Billion dollar company down slowly and systematically by 20%, over their term as CEO; AND still make Hundredths of Millions of dollars in stock options and bonuses. THIS CEO SELLS THE SHARES OBTAINED AS FAST AS THEY CAN BE LEGALLY SOLD. IS THIS A GOOD SIGN?
Meanwhile the IBM stock price dropped over 20% during this CEO's reign.
Even Warren Buffet gave up on IBM.
It's time to vote your shares and vote out all of the USELESS & INCOMPETENT Board of Directors that continues to fail to act while this CEO has put IBM into a 5+ year death spiral, it may not recover from.
PS - The only way IBM makes its EPS numbers is by buying back stock. To make the 4Q EPS, IBM did an extra $3.1 BILLION buy back in October, could it be this was done to make 20174Q & FY numbers. If CEO stays, IBM implodes sooner than later.
That woman has no results and no soul. My spouse was RA'd, had an MBA from an ivy, and almost two dozen yrs with IBM. His prior manager retired early bc he hated having to lay off good people. My spouse sometimes made 600% of his sales quota and was in the top 3% of the sales force. A minority woman came in to replace the manager who retired, and she was not only under qualified for the job but also racist. She targeted my spouse and would give out the wrong dates, times and places for meetings. She had the unmitigated gaul to say "let me show you how to sell," full knowing my spouse's record! My spouse was targeted as part as of the age-related vs performance-related layoffs and was only 56. After not finding work after a year, my spouse committed suicide. We are devastated beyond words. Does Ginni care? No. IBM & Fidelity had so many admin errors that the life insurance was denied, and now we are spending the time we should be grieving, on doing life insurance appeals instead. I pray Rometty and her staff of killers get fired and suffer miserably for what they are doing to people's lives. She never even sent a condolence letter which all those who have been terminated and bridged to retirement should receive. Years ago, not only did you get letters of condolence from your manager, director, VP & the CEO, but IBM sent flowers and a representative from your dept to attend the funeral. They did that when my father died. We got nothing in this tragedy except horror and grief. Rometty and this woman who terminated my spouse have blood on their hands.
The ancient IBM Board of Directors....average age 67....thinks she is a spring chicken. The are vetting a few candidates, however, and the rumor is Bill T. Voris or Hugh G. Rection will take the reins in January.
Time to Go!!
Ibm is not able to sustain an other year of GINNI as CEO. She has destroied the biggest IT Company, its soul, the competences, the skills, the laboratories, the client relations considered non like milking cows ..to tax with financial deals without value for them. She reduce IBM to a single offerring "Cognitive Service in cloud". What are the wonderfull cognitive services ? Speach to text, image recognition, sentiment analysis...weather forecast? Whats is Watson ? They Are alghoritms to specialize with long and complicate project..basically an empty box. Software is destroied, delivery capabilities destroied, hw very close to be destroied. She destroied IBM with the tiranny of Excel Sheet..she destroied "THINK" and imposed the "EXECUTE", all people in IBM spent 90% of time controlling business data of other colleagues, performing forecast, in hypercube controlling model...the horizon is the week ..numbers...Numbers...Numbers..forecast, pipeline, CRM, EXCEL, calls ...hundreds of calls everyone makes call with everyone with reports...and Excel sheet in front. hundreds of managers now gone crazy like a nest of wasps, who for years have seen no more customers but are always in calls to relate real and imaginary numbers. Managers vanishing impossible demands .. they rush to l bring 100k For Tomorrow ignoring client priority, compelling reasons, projects. this is what happens when finance takes control of a company once commercial and technical Managed. I was proud of working in IBM but that company does not exist anymore.
I am an ex-IBMer. The tradition is 60 years for IBM CEO to retire. All CEO except Watson Sr. served upto 60 years. Even Watson Jr. had to retire at 60. So why is Ginni still there? In her realm, the company has spiraled downward. Can someone explain?
Like others have said, Ms. Rometty needs to go. No one at ibm would be allowed to stay with her results.
Did she attend the same management seminars as Ron Johnson? At least the JCP board was smart enough to dump him; IBM's board should be dumped even before Rometty.
The one year extension is false. The real rumor is that the board of directors is considering an individual named William T. Voris as a replacement for Ginni Rometty.
IBM could have "owned" everything regarding Cloud or anything else for that matter ... but (over 10 years) they chose to chase $25 earnings per share with declining revenue. They chose to buy back stock with declining revenue. They chose to increase dividends with declining revenue. They chose to cut costs to shore up earnings. They laid off competent people and promoted the incompetent (like Rometty) because they did not buck management. They had a senior executive arrested for for securities fraud and conspiracy. They dumped profitable businesses because they didn't make ENOUGH profit. They cut corners in outsourcing deals and lost big accounts. They see no value in small customers and have cut service to large ones as well. You don't go from $104B in earnings in 2011 to $80B in earnings because you're good. You go there because you're bad. You go there because businesses do business with you because they have to, not because they want to. You go there because you foster a culture of fear within the company and not brotherhood. You got there because you lost all the values you started with; respect for the individual, pursuit of excellence and providing superior service. Bye-bye IBM. It's been not so nice lately knowing you.
That one year extension may be true because by now IBM would have announced a president a year or so before Rometty was to turn 60 which would have been July 2016. She turns 60 this July.
Ginny is managing with constraints. New person will hv freedom and has to remove non preforming VPs, GMs, DEs. These people are highly paid and making tons of $$$$. They add zero or minimum value and survive due to their clout or network.
Warren Buffett just sold 1/3 of his IBM shares. That's it for Ginni, with the recently demonstrated lack of shareholder confidence in her, almost voting down her compensation package, hopefully she's gone within a week or as soon as they find a replacement.
Ginni NEEDS to go !!!!!!!!!
Go live on the streets like you're making us do because you put us out of our jobs we lost our homes etc. you have no idea Ginni
The rumor is she has been granted a one year extension
After she's done firing everyone and taking all of their money.