The distinguished CEO Lou Gerstner, who led IBM out of difficulties, has passed away at the age of 83
Lou Gerstner, who served as Chairman and CEO of International Business Machines Corporation (IBM), passed away last Saturday at the age of 83. Gerstner's nine-year tenure is often cited as a case study in corporate leadership; during that time, he shifted the company's focus from hardware production to business services. Under Gerstner's leadership, IBM's stock price soared from $13 to $80, its market capitalization grew from $29 billion to approximately $168 billion, and service business revenue increased from $7.4 billion in 1992 to $30 billion in 2001
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