Dec 28 (Reuters) – Louis Gerstner, the former CEO and chairman of IBM (IBM.N), opens new tab, died on Saturday, aged 83.
IBM chairman and CEO Arvind Krishna announced Gerstner’s death in an email sent Sunday to employees, but did not provide a cause of death.
erstner moved to IBM from being the CEO of RJR Nabisco in April 1993 after stints at American Express (AXP.N), opens new tab and the consultancy McKinsey, becoming the first outsider to run Big Blue, as IBM was called.
During the nine years he led the computer giant, he was widely credited with turning around a company that was facing potential bankruptcy, pivoting the company to business services. He radically changed IBM’s culture and focus while slashing expenses, selling assets and repurchasing stock.
Gerstner retired as CEO of IBM in 2002, with the stock some 800% higher than when he had started, moving to become the chairman of Carlyle Group until his retirement in 2008.
