Dennie Welsh WAS the REAL HEIR APPARENT to Gerstner. He became
incapacitated due to illness and retired. Of course, no expense was
spared on his medical, unlike the modern day slaves called IBM
I am not surprised by the amount of money he got, Lou thought very
highly of him. Lou thought he was actually a very good businessman,
although he was much more ethical than most IBM executives.
He would have made a much better successor.
Unfortunately, Lou had no backup plan, had to stay a little longer,
take the heat for the personnel changes and choose another player for
CEO. Unfortunately, dictators don't like succession planning and the
bench was very weak.
The result? An intellectual giant.
--- In firstname.lastname@example.org, fhawontcutit <no_reply@y...> wrote:
> --- In email@example.com, "ibmmike2006" <ibmmike2006@y...>
> > You can go to the CBS Market watch website and see for yourself
> > what the "35" exercised their options at, and how much they sold
> > for.
> Have you checked out the transaction that this site records for
> 5/20/1998 for Dennie Welsh?
> YIKES!! Is this an error on the site?
> 05/20/1998 3,350,000 IBM Stock Gift
> value of $206,862,500.00
> Over 3 million shares? With a value almost $207 million????