CEO: Virginia Rometty
IBM's stock price was essentially flat in the first half of this year. In the third quarter there was some movement -- but in the wrong direction.
While generally maintaining growth in its software and services business this year, IBM has been struggling with its server and storage hardware businesses. In the company's second quarter systems and technology revenue was down 12 percent, including a precipitous 25 percent drop in Power Systems sales.
In August, channel chief Bill Donohue retired and the company said it was searching for a replacement. In September, IBM pledged to spend $1 billion in a multiyear effort to develop its Linux and related open-source technologies.