Louis Gerstner: The Visionary Who Reshaped IBM

Louis Gerstner, former CEO of IBM, passed away at 83. Known for steering IBM away from bankruptcy, he reshaped the company's focus towards business services. Gerstner was also active in philanthropic efforts in education and health. His leadership legacy continues to influence the tech industry.

Louis Gerstner, the transformative former CEO and chairman of IBM, has died at the age of 83. Current IBM chairman and CEO Arvind Krishna confirmed Gerstner's passing in an employee email, leaving out the cause of death.

Gerstner took the helm at IBM during a critical time, joining as CEO in April 1993 from RJR Nabisco. His leadership was pivotal in steering the company away from imminent bankruptcy by pivoting IBM towards business services. Under his nine-year tenure, IBM underwent a radical transformation in culture and focus, resulting in an impressive 800% increase in stock value by the time of his retirement in 2002.

Aside from his corporate achievements, Gerstner was deeply committed to philanthropy, notably in education, through initiatives leveraging IBM's technology. He founded the Gerstner Philanthropies to support biomedical research and various social services. His contributions to the tech world and public welfare exemplify a legacy of innovation and social responsibility.

(With inputs from agencies.)