Louis V. Gerstner, Who Revived a Faltering IBM in the ’90s, Dies at 83
The New York Times••business
Key Points:
- Louis V. Gerstner Jr., who led IBM's remarkable turnaround in the 1990s, died at age 83 in Jupiter, Florida; the cause of death was not disclosed.
- Gerstner became IBM's CEO in 1993, marking the first time the company appointed a leader from outside its ranks since its founding in 1911.
- He took charge during a critical period when IBM was struggling due to the decline of the mainframe era and the rise of personal computing dominated by Microsoft and Intel.
- Upon joining IBM, Gerstner identified the urgent need to stop the company’s cash losses, as IBM was close to running out of money.
- His leadership helped reverse widespread predictions of IBM
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