IBM picks Ginni Rometty as new CEO

IBM Corp. has picked Virginia Rometty to succeed Sam Palmisano as president and CEO of the company.

She takes over the post on Jan. 1. Palmisano will remain as chairman of the board.

Rometty currently is the senior vice president and group executive for sales, marketing and strategy. She goes by Ginni and has led several important business moves at IBM, including the formation of IBM Global Business Services and the acquisition of PricewaterhouseCoopers.

“She is more than a superb operational executive. With every leadership role, she has strengthened our ability to integrate IBM's capabilities for our clients,” Palmisano said in the announcement.

Rometty had nothing but praise for Palmisano, crediting him with transforming the company since he became CEO in 2002. “Sam taught us, above all, that we must never stop reinventing IBM,” she said.

IBM’s share price was little changed with the announcement. It closed down at $180.36 on Aug. 25, compared to $182.25 the day before.