"Who says elephants can't dance?" 》txt full set download

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Who said elephants can't dance? --Autobiography of IBM Chairman Gerstner (selected) Author: Gerstner

Taking office (1)

In the next 10 days, we will first be busy preparing a employment contract. But this is not easy to do, for many reasons. The biggest reason is that RJR Nabisco is a leveraged buyout company. The CEO is regarded as the owner of the company, and the CEO himself will also hold a large amount of equity in the company. The final liquidation showed that I owned $2.4 million in equity and $2.6 million in options in RJR Nabisco. At IBM, stock ownership is only a reward for senior managers. It is clear that IBM's board of directors and managers in the human resources department have not generally accepted the idea that the company's managers can also hold a majority of the company's shares. This is my first impression of IBM, a large company. Every preparation was difficult to some extent, and my second task was to inform the KKR and RJR Nabisco boards of my decision. March 20th and 21st is the weekend and the day of the annual "Nabisco Dinah Beach Golf Tournament". Nabisco invited all of its major customers to the event, and it was an important event for me to attend. I also knew that Henry Kravis (a senior partner at KKR) would be attending, so I decided to discuss my decision with him then. My name was already on IBM's short list of CEO candidates and was in the media, and the boards of KKR and RJR were certainly upset. In my meetings with KKR over the past few weeks, there was a definite sense of tension in the atmosphere. Finally, on Sunday, March 21, in my room at the Dinah Beach Hotel, I told Henry Kravis that I was ready to accept the position at IBM. After hearing what I said, he was very unhappy, but still remained polite and peaceful on the surface...