There has been very positive feedback so far to Ginni Rometty's accession to the CEO position at IBM on January 1.She has already filled the position she previously held at IBM,Senior Vice President and Group Executive,IBM Sales,Marketing and Strategy,as well as another Senior Vice President opening.I absolutely think she's capable of filling her predecessor Sam Palmisano's shoes to lead a nearly 400,000 employee firm,said Brad Zelnick,a Senior Analyst at Macquarie Capital.
Born in 1958,Ms.Rometty began her IBM career in 1981.She was number seven on Fortune magazine's 50 Most Powerful Women in Business in 2011,and has made the list for seven consecutive years.Ms.Rometty has a B.S. in Computer Science and Electrical Engineering with honors from Northwestern University,and serves on the University's Board of Trustees.
IBM is very well-positioned to perform against any number of economic backdrops,Mr.Zelnick feels.It has consistently reinvented itself.In the end,it comes down to intellectual property.IBM spends six billion dollars a year on R&D,as opposed to Oracle's four billion.The company is the number one U.S. Patent Office awardee.
We expect IBM to continue consolidating the software industry.It has roughly 12 billion more to spend on that,to acquire and drive that growth agenda.
We think IBM's road map is conservative.The stock is worth considerably more than what it trades for.Warren Buffett invested in it,and he isn't known for tech investing,Mr.Zelnick pointed out.
International Business Machines(IBM),Oracle(ORCL)
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