The headline is a little mis-leading, since Palmisano remains as Chairman, but Ginni Rometty moves up to CEO and President, as announced today by IBM.

What I like about this article is this:

Palmisano's tenure was an extremely successful one: After taking the tech giant's reins from Lou Gerstner in 2002, Palmisano transformed the company from a systems and services firm into a supercomputing and analytics mega-machine.

The makeover paid off. Shares have soared 73% during Palmisano's tenure and IBM's revenues have more than quadrupled in his nearly 10 years at the helm.
This is the big picture, my friends. You may complain about IBM marketing or individual products or competitive positioning, but in the last decade, IBM has grown 4x and its value to shareholders has nearly doubled. While Palmisano has never sought the limelight in a Ballmer or Ellison kind of way, he has truly been a visionary and leader in shaping the present and future of IBM.

I met Ginni Rometty at my new executive brainwashing training class three years ago. She was the most-senior executive to come address our class, but she spent very little time presenting. Most of her time with us, the future leaders of IBM, was in Q&A format, with open and honest answers. Rometti saw the challenges, understood the markets, and had a vision of where to go. That's why it is no surprise that she says today,
Sam taught us, above all, that we must never stop reinventing IBM.
After more than 17 years here, I have never been more excited about what happens next at IBM. The combination of Palmisano and Rometty in the executive office seems like a dream team to this product line executive. It won't be long before we know what IBM's next century stands for.

Link: CNNMoney: IBM CEO Palmisano to step down >

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