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Samuel Palmisano retires as IBM Corp. CEO as he has reached traditional retirement age of 60
ARMONK. N.Y. (AP) ' IBM has unexpectedly changed CEOs. That ends speculation that Sam Palmisano, who turned 60 this year, would stay on past the traditional age of retirement for the technology company's captains.
Palmisano, who has been CEO for nearly a decade and is staying on as chairman, is being replaced by IBM Corp.'s first female CEO, Virginia "Ginni" Rometty. She is in charge of IBM's sales and marketing and has long been whispered about by industry watchers as Palmisano's likely heir.
Rometty's appointment, effective Jan. 1, means that women will be in charge of two of the world's biggest technology companies.
Last month, Meg Whitman was named CEO of Hewlett-Packard Co.