Samuel J. Palmisano
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| Samuel J. Palmisano | |
|---|---|
| Born | July 29, 1951 |
| Occupation | CEO, chairman and president of IBM |
| Spouse(s) | Missy Palmisano |
| Children | Four children |
Samuel J. Palmisano (born July 29, 1951) is the current chairman, chief executive officer, and president of IBM, which as of 2008 was the largest IT company in the world and 46th largest company overall.[1] He was elected chairman in October 2002, effective January 1, 2003, and has served as CEO since March 2002. Prior to his appointment, Palmisano was president and chief operating officer since 2000.
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[edit] Education and Personal Life
Palmisano attended Calvert Hall in Baltimore, Maryland, for high school and while there played backup sax for The Temptations.[2] He holds a bachelor's degree in history from Johns Hopkins University. He is married to Missy Palmisano, has four children, and lives in Southport, Connecticut.
[edit] Career
Palmisano joined IBM in 1973 and was elected senior vice president and group executive of the Personal Systems Group in 1997. He was then promoted to senior vice president and group executive of IBM Global Services in 1998, during the period when IBM shifted its focus from pure technology to embrace outsourcing and other services. He became senior vice president and group executive of Enterprise Systems in 1999 when the systems group drove IBM's move to adopt the Linux operating system.
Before leading IBM Global Services, Palmisano led the IBM strategic outsourcing business and before that he was president of an IBM subsidiary—Integrated Systems Solutions Corporation—which ultimately became IBM Global Services. After becoming CEO of IBM, Palmisano has outsourced many US jobs to emerging markets which has enabled low business costs and in turn driving earnings per share higher.[citation needed]
He was elected to the board of Exxon Mobil in 2006. He is also the Honorary Chairman of National Engineers Week 2008.
In November 2008, Palmisano, during a speech at the Council on Foreign Relations, outlined IBM's Smarter Planet initiative.[3]
While CEO of I.B.M. in 2007, Samuel J. Palmisano earned a total compensation of $20,908,168, which included a base salary of $1,800,000, a cash bonus of $5,800,000, stocks granted of $10,821,139, and options granted of $1,498,550.[4] In 2008, he earned a total compensation of $20,965,883, which included a base salary of $1,800,000, a cash bonus of $5,500,000, stocks granted of $12,220,311, no options, and other compensation of $1,445,572.[5]
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| Preceded by Louis V. Gerstner, Jr. |
CEOs of IBM 2002- |
Succeeded by Current |
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