💊 IBM - 31-Jan
The emblematic CEO of IBM Ginni Rometty is stepping down and being replaced by Krishna, the head of IBM’s cloud business ☁️
The market seemed happy with the news (+4%)
Investors did not like Ginni? It's not that simple 🤓
IBM has 2 separate businesses: its older, legacy businesses, including hardware and services, and its cognitive/cloud business, which includes Artificial Intelligence.
Ginni might represent the "old IBM" for investors, though she terminated or sold many unprofitable legacy businesses and organized the acquisition of RedHat (a cloud services company for Linux).
Over-reaction or real hope for a new strategy? 🤔