The Oracle of Omaha admitted that in the first quarter of 2017 he sold 1/3 of his holdings in IBM which had grown to be about 81 million shares over the last 6 years. 24 - 25 million shares dumped.
Tens of thousands have lost their jobs since Ginni took the helm, but Ginni pocketed $33 million for her 2016 performance. Her slash and burn methods have paid off well for her.
Buffett's exit puts a period at the end of the Ginni Rometty reign. Yes, the end. it's "Dead Woman Walking" from here on out. Let's find out what she wants for her last meal and just get on with it.
The board, however, needs to do a major spring cleaning, it's not just Ginni. This is, without hyperbole, another critical turning point in IBM's history similar to the early 90's "near death" experience, and they need tough smart people at the top who get it, not just cronies.
Under Ginni it's been a slow death up to now, but it's going to get away very quickly now if something isn't done.