Armonk-based IBM’s CEO Sam Palmisano is profiled in a Fortune article that says he restored Big Blue’s focus on innovation and long term goals. Last year’s R&D spending was $6 billion, some 6% of the company’s $100 billion in annual sales. The company filed some 5,896 patents in 2010, more than any company in the world.
Palmisano took over from Lou Gerstner who laid off thousands and re-focused IBM on the profitable services industry. When he took over, Palmisano pushed into new countries and expanded into hot businesses such as supercomputing. The CEO is delivering to stockholders, as IBM’s stock is outperforming the market and has risen 57% since he took over.
The article also took a look at IBM’s “Smarter Planet” initiative, which starts with the idea that electrical grids, transportation systems etc. can be made to run more efficiently if they are better monitored.
Fortune
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