VIRGINIA MARIE "GINNI" ROMETTY (born July 29, 1957) is an American
business executive. She is the current chairman , president , and CEO
IBM , and the first woman to head the company. Prior to becoming
president and CEO in January 2012, she held the positions of senior
vice president and group executive for sales, marketing, and strategy
at IBM. She joined
IBM as a systems engineer in 1981.
Rometty's tenure as CEO has been marked by prestigious awards
including by Bloomberg who named her among the 50 Most Influential
People in the World , and Fortune naming her among the "50 Most
Powerful Women in Business" for ten consecutive years. Her tenure as
CEO has been met by criticism related to executive compensation,
outsourcing, and IBM's 22 consecutive quarters of revenue decline.
* 1 Early life and education
* 2 Career
* 3 Boards and honors
* 4 Criticism
* 5 Personal life
* 6 References
* 7 External links
EARLY LIFE AND EDUCATION
Rometty was born on July 29, 1957 in
Chicago, Ill. . She is oldest of
four children. Her father left when she was fifteen years old and her
mother worked multiple jobs to support her and her siblings. Rometty
graduated from the Robert R. McCormick School of Engineering and
Applied Science at
Northwestern University in 1979 with high honors,
receiving a bachelor's degree in computer science and electrical
engineering . Rometty was a member of the
Kappa Kappa Gamma
Kappa Kappa Gamma sorority,
eventually serving as its president.
After graduation in 1979, Rometty went to work for General Motors
Institute . In 1981, she joined
IBM as a systems engineer in its
Detroit office. She joined IBM's Consulting Group in 1991. In 2002,
she "championed the purchase of the big business consulting firm,
PricewaterhouseCoopers Consulting, for $3.5 billion." Rometty became
senior vice president and group executive for sales, marketing, and
strategy in 2009 and is "credited with spearheading IBM's growth
strategy by getting the company into the cloud computing and analytics
businesses. She was also at the helm of readying Watson , the
Jeopardy! playing computer, for commercial use."
On October 25, 2011,
IBM announced that she was to be the company's
next president and CEO, with
Sam Palmisano stepping down but retaining
his position as chairman. Rometty's appointment marks the first time
a woman has been CEO of IBM. Regarding her promotion, Palmisano
stated, "Ginni got it because she deserved it... It’s got zero to do
with progressive social policies."
On September 26, 2012,
IBM announced that Rometty was taking on the
added role of chairman of IBM, as Samuel Palmisano prepared to retire
at the end of 2012. Rometty commenced her duty as chairman, president,
and CEO of
IBM on October 1, 2012. One of her goals is to focus
company efforts on the cloud and cognitive computing systems, such as
BOARDS AND HONORS
Rometty serves on the
Council on Foreign Relations
Council on Foreign Relations ; the Board of
Trustees of her alma mater Northwestern University; the Board of
Overseers and Board of Managers of Memorial Sloan-Kettering Cancer
Center ; and is a council member at the Latin America Conservation
Council, a subsidiary of
The Nature Conservancy
The Nature Conservancy . She also served on
the Board of Directors of AIG from 2006 until 2009.
In 2014, Rometty was featured in the
PBS documentary The Boomer List.
Also that year, she became the third female member of the Augusta
National Golf Club. She has received honorary doctoral degrees from
Rensselaer Polytechnic Institute
Rensselaer Polytechnic Institute (2014) and Northwestern University
In Fortune's September 15, 2015 issue, Rometty ranked 3rd on their
Most Powerful Women List.
Named the 11th most powerful woman on the 2016 Forbes list: The
World\'s 100 Most Powerful Women .
Over Rometty's tenure as CEO she has been met by increasing
criticism, most notably a confrontation with Mark Cuban, who said,
IBM is no longer a tech company" and "They have no vision", with IBM
losing revenue for 22 consecutive quarters.
IBM employees have also
criticized her for taking pay bonuses despite massive layoffs
(replacing employees with cheaper talent offshore or with H1B Visa
holders), as well as for poor performance. Rometty has been named
among the worst CEOs by several publications including the Motley
Fool, 24/7 Wallstreet, Forbes, and the Wall Street Journal.
Rometty married Mark Anthony Rometty, a principal investor in the Bam
Oil Company, who she met at General Motors while working there for two
years after college. They have been married for 37 years and the
couple has no children.
* ^ "Virginia Rometty". prezi.com. Retrieved 16 July 2014.
* ^ Waters, Richard. "More than a big smile on Big Blue\'s face".
October 28, 2011.
Financial Times . Retrieved 16 July 2014.
* ^ Aluise, Susan J. (May 10, 2012). "America\'s 10 Most Powerful
Female CEOs". InvestorPlace. Retrieved 10 July 2014.
* ^ Barnett, Megan (November 14, 2011). "Buffett goes big in Big
Blue". Fortune . Retrieved 10 July 2014.
* ^ A B "
IBM Names Rometty to Succeed Palmisano as First Female
Bloomberg BusinessWeek . 25 October 2011. Retrieved 25 October
* ^ A B "IBM\'s
Ginni Rometty Completes Her Ascent by Adding
Chairman Role". Bloomberg. Retrieved 26 September 2012.
* ^ Forbes magazine's "World's 100 Most Powerful People" in
2014."The world\'s 100 most powerful". Forbes.
Time 100 in 2012,Mayer, Marissa (18 April 2012). "The 100 Most
Influential People in the World". Time. Retrieved 18 April 2012.
* ^ 50 Most Influential list of
Bloomberg Markets magazine in
* ^ "Ginni Rometty". Fortune . 20 September 2012. Retrieved 20
* ^ "Ginni Rometty". Fortune .
* ^ "CEO\'s who have to go". 24/7 Wall Street.
* ^ A B "Fortune Magazine". Gets a Raise Despite Tumbling Stock
* ^ A B "Mark Cuban Slams IBM: It\'s \'No Longer A Tech Company.
They Have No Vision.\'". Business Insider. Retrieved 2017-04-21.
* ^ "NU appoints 5 new members to Board of Trustees". Northwestern
University . June 25, 2010. Archived from the original on June 29,
2010. Retrieved 2011-10-26.
* ^ Hempel, Jessi (8 October 2012). "IBM\'s
Ginni Rometty looks
ahead". Fortune .
* ^ A B C "
IBM Names Virginia Rometty as First Female CEO". Wired.
October 25, 2011. Retrieved 2011-10-26.
* ^ A B "I.B.M. Names Virginia Rometty as New Chief Executive". The
New York Times . October 25, 2011. Retrieved 2011-10-26.
* ^ "
Sam Palmisano to step down".
CNN . 25 October 2011.
Retrieved 25 October 2011.
* ^ A B Bellstrom, Kristen (September 15, 2015). "Fortune's Most
Powerful Women List". Fortune.
* ^ "2010 Annual Report" (PDF). Memorial Sloan-Kettering Cancer
Center . Retrieved 2011-10-26.
* ^ "LACC Members". Latin America Conservation Council website. The
Nature Conservancy . Retrieved 25 April 2014.
* ^ IBM\'s Rometty Breaks Ground as Company\'s First Female Leader.
Bloomberg BusinessWeek, 26 October 2011.
* ^ "The Boomer List".
PBS . pp. Rometty starting at 1 hr 6 min.
Retrieved 9 October 2014.
* ^ "Virginia Rometty becomes 3rd female member of Augusta National
- ESPN". ESPN.com. Retrieved 17 November 2014.
* ^ "
Rensselaer Polytechnic Institute
Rensselaer Polytechnic Institute Graduates 1,613 in 208th
Commencement Ceremony". Retrieved 4 April 2015.
* ^ "
IBM executive, Northwestern alumna Virginia Rometty to speak
at 2015 commencement". Retrieved 4 April 2015.
* ^ "World\'s Most Powerful Women". Forbes. Retrieved 2017-07-24.
* ^ "IBM: Employees React to Rometty, Exec Bonuses as Layoffs Reach
5K". thevarguy.com. Retrieved 2017-05-02.
* ^ "CEOs Who Have to Go in 2016". 247wallst.com. Retrieved
* ^ Lublin, Joann S. (2015-06-25). "How Much the Best-Performing
and Worst-Performing CEOs Got Paid". Wall Street Journal. ISSN
0099-9660 . Retrieved 2017-05-02.
* ^ Hartung, Adam. "Why You Do Not Want To Own IBM: Growth Stalls
Are Deadly". Forbes. Retrieved 2017-05-02.
* ^ Mattera, Sam (2017-05-02). "The Worst Tech CEOs of 2014 -- The
Motley Fool". The Motley Fool. Retrieved 2017-05-02.
* ^ Stewart, James B. (5 November 2011). "A C.E.O.\'s Support
System, a k a Husband".