What is Ginni Rometty’s net worth and salary?

Ginni Rometty, former chairwoman, president, and CEO of IBM, has a net worth of $90 million. During her time with IBM, she earned a yearly salary of around $33 million. Under her leadership, IBM shifted its focus to emerging technologies like cloud computing and artificial intelligence. Rometty joined the company in 1981 and worked her way up to head global sales, marketing, and strategy. She has been recognized as one of Bloomberg’s 50 Most Influential People in the World, Time’s 20 Most Important People in Tech, Fortune’s 50 Most Powerful Women in Business, and Forbes’ America’s Top 50 Women in Tech. Rometty stepped down as CEO in April 2020.

Rometty is also the largest individual shareholder in IBM, holding 206,000 shares directly and another 96,000 restricted stock units, which have been worth around $40 million in recent years.

Early Life and Education

Virginia Rometty was born into a working-class family in Arlington Heights, a suburb of Chicago. Her parents divorced when she was a teenager, and her mother raised her and her siblings on her own. Despite financial challenges, Rometty’s mother instilled in her the values of hard work, perseverance, and education.

Rometty attended Northwestern University, where she earned a Bachelor of Science degree in Computer Science and Electrical Engineering. She was a member of the Kappa Kappa Gamma sorority and held several leadership roles within the organization.

Ginni Rometty’s Career at IBM

In 1981, Ginni Rometty joined IBM as a systems engineer, where she worked with clients to address their technology challenges. She held various positions in sales, marketing, and strategic planning, and her performance and leadership abilities led to a steady promotion through the ranks at IBM.

Ginni Rometty’s Successful Management of IBM’s Acquisition of PwC Consulting

In 2002, Rometty was appointed as Senior Vice President of IBM Global Business Services. Her responsibilities included overseeing the integration of PricewaterhouseCoopers Consulting after IBM acquired the firm. The merger created one of the largest consulting businesses globally. Rometty’s effective leadership during the integration process helped establish her reputation as a skilled leader.

Ginni Rometty Becomes First Female CEO of IBM

In 2011, IBM announced Ginni Rometty would take over as the company’s President and CEO, succeeding Samuel J. Palmisano. Rometty’s appointment made her the first woman to lead the tech giant in its 100-year history. She officially assumed the role on January 1, 2012, and later that year, was also named the company’s Chairman.

IBM’s Transformation under Rometty’s Leadership

Ginni Rometty oversaw a significant transformation of IBM during her tenure as CEO. She shifted the company’s focus from traditional hardware and software businesses to emerging technologies such as cloud computing, artificial intelligence (with the development of IBM Watson), and cybersecurity. These areas, which she referred to as “strategic imperatives,” became the driving forces behind IBM’s growth and innovation.

IBM’s Acquisition of Red Hat Signals Strategic Move to Strengthen Cloud Computing Market Position

Under the leadership of Ginni Rometty in 2018, IBM announced its largest acquisition to date, the $34 billion purchase of Red Hat, an open-source software company. This move was seen as a significant step to bolster IBM’s position in the rapidly expanding cloud computing market.

Ginni Rometty Retires as IBM CEO

Ginni Rometty, IBM’s CEO, announced her retirement in January 2020, effective April 2020. She was succeeded by Arvind Krishna, the company’s Senior Vice President of Cloud and Cognitive Software. Rometty continued to serve as IBM’s Executive Chairman until her retirement at the end of 2020.

Throughout her nearly 40-year career at IBM, Rometty broke numerous barriers and left an indelible mark on the technology industry.

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