Palmisano named IBM chairman

IBM president and chief executive officer Samuel Palmisano has been elected chairman of the company. He succeeds Louis Gerstner,...

IBM president and chief executive officer Samuel Palmisano has been elected chairman of the company. He succeeds Louis Gerstner, who is retiring from IBM at the end of the year.

Palmisano, 51, will take on the role of chairman from 1 January 2003.

The appointment places all the reins in Palmisano's hands, as he continues the initiatives he has undertaken since seizing the post of chief executive officer from Gerstner last March.

Palmisano has headed an acquisition of PricewaterhouseCoopers Consulting and several software companies, as well as heading a restructuring of the company's microelectronics unit and the outsourcing of desktop PC manufacturing.

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