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Lou Gerstner wrote, "People truly do what you inspect, not what you expect." … Lest we forget, these "inspection pages" exist because chief executives are "people" too.

Peter E. Greulich

Arvind Krishna's Overview Home Page

Date Published: July 22, 2021
Date Modified: April 10, 2024
A slide that shows Arvind Krishna, the exit of Jim Whitehurst from IBM and a performance evaluation of Krishna.
This page was initially published on February 3, 2020. Information linked to from this site is now updated with IBM's 2020-2023 performance information to properly reflect Arvind Krishna's four-year performance as IBM's chief executive officer.

The information was updated to reflect the loss of James (Jim) Whitehurst. One has to wonder how many Red Hat employees have followed the former IBM-Red Hat President's example? ​Since IBM paid $3,000,000 per Red Hat employee for the company, the losses mounted up pretty quickly. No one apparently knows all the reasons for Jim's departure. ​Maybe he is saving the details for his "Who Ever Thought That Elephant Danced?" memoir. ​It will be a best seller!
Evaluating Arvind Krishna: IBM’s Tenth Chief Executive Officer
  • In 2020, Arvind Krishna Did Not Have Time to Waste
  • Arvind Krishna's Critical Performance Metrics and Evaluation Points
In 2020, Arvind Krishna​ Should Have Acted Quickly
As Arvind Krishna was determining what he would do first, he should have considered prioritizing four activities:
  1. He should have: returned IBM’s Human Resources organization to its original function and purpose as a Human Relations organization. This would have improved employee productivity by increasing employee engagement, passion and enthusiasm. A human resources organization should not be the right arm of finance to help the corporation achieve quarterly, earnings-per-share targets.

    In his four years in the corner office at IBM, Arvind Krishna has failed in this respect. Although it may appear employee productivity is improving, this is only because of inflation and cost increases passed on to IBM's customers, not any business-first philosophy of making people more productive, processes more effective, and products more valuable.

  2. He should have: focused on maximizing stakeholder value to rebuild a sustainable stakeholder ecosystem. It was this ecosystem of customers, employees, shareholders, and societies that supported the corporation through its first eight decades. This meant rejecting the two extremes of maximizing shareholder value: shareholder-first and -foremost and me-first and -only.

    In this respect, Arvind Krishna has so far resisted--unlike his predecessors, spending money on share buybacks. Will he eventually buckle under pressure despite their failure in the past?
    ​
  3. He should have: taken goodwill impairments down and started with a clean slate: neither IBM nor Kyndryl should have started their new life apart with intangible assets of over 50%.

    Another failure as shareholder risk has continued to rise. If IBM fails as a business over 50% of its assets have little to no value for shareholders which is a risk most investors fail to consider.
    ​
  4. He should have: ensured that James M. Whitehurst stuck around. IBM needed a true salesman or saleswoman in the corner office.

    ​Jim was a chance—lost, in this area.
As always, the perspectives shared here are not Wall Street quarterly perspectives but a businessman’s perspective of years, decades, and, at times, centuries. So, don't expect to find insights into minor bumps on the business roadmap like one or two quarters of revenue growth. After all, Ginni had some of these positive, short-term growth "irregularities" too, but she still turned in horrible year-over-year and long-term revenue growth numbers.
A picture of two skyscrapers rising above the clouds with the tagline: How IBM and J.C. Penney Built Their Brands.
Two other American industrialists who believed in adapting the Golden Rule to business were Thomas J. Watson Sr. and J. C. Penney.
​​IBM’s way forward is contained in this quote of Owen D. Young, former Chief Executive Officer of General Electric and a former Chairman of the Federal Reserve Bank.
"What is right in business requires, in highly complicated situations, that the golden rule be applied by men [and women] of great understanding and knowledge, as well as conscience. They must be technicians in the sense of making the connecting link between the golden rule on the one side and the most complicated business transaction on the other."
Owen D. Young, Delivered from Dr. Fosdick's New York Church, 1929
​Mr. Arvind Krishna has a hard task in front of him: restoring the engagement, passion and enthusiasm of 305,300 employees—already down 20.5% or 78,500 employees since the end of 2019. If he is to bring IBM back, he will have to be a technician in Mr. Young’s sense: an individual who understands human nature first and technology second. This should be—no, must be—his overriding first initiative.

Unfortunately, I have worked in one of Arvind's organizations. Unless he has transformed "himself" in the last decade, he may have the desire but lack the ability to transform "his corporation." Although he is a "pleasant" individual, he is first and foremost a technologist with little sales sense.

It is in this respect that Jim's loss was most felt: salesmanship.

Cheers,

​- Pete
A high-quality image showing all ten of IBM's Chief Executive Officers and their dates and years of service in IBM's corner office.
All of IBM's Chief Executive Officers with their dates and years of service.
 Arvind Krishna's Critical Performance Metrics and Evaluation Points
Arvind Krishna's Overall Performance as IBM's CEO from 2020 through 2023
After four years in the corner office, Arvind Krishna owns IBM's performance. This is a set of web pages that is updated at the end of each year after the publication of IBM's annual report utilizing the current year's results. Hopefully, I will be able to continue this process until he relinquishes the corner office to his successor.
A high-quality, color slide with the tagline: Arvind Krishna's Overall Key Performance Measurements 2020-2023.
IBM"s Performance from 2020 to 2023
When he retires I will again, hopefully, publish the third update in the "THINK Again" Series updating "THINK Again: The Rometty Edition" to "THINK Again: The Krishna Edition."

Until then, enjoy this yearly update of Arvind's key performance metrics.

The First Year's Performance
At the end of Arvind Krishna’s first fiscal year as chief executive officer his performance markers were nine downers and a flat note.

​It was not a very impressive start. Is Arvind Krishna proving to be evolutionary, revolutionary, or more of the same?

Image of Las Vegas roulette wheel with tagline:
James (Jim) Whitehurst is gone
Let’s graph Krishna’s 2020 performances, and then put those performances within the context of the corporation’s 21st Century results. 

The First 1oo Day's Performance
​Wednesday, July 15, 2020 marked the end of "The First 100 Days" for Arvind Krishna, IBM’s chief executive officer, and James M. Whitehurst, the corporation’s new president. ​

​What does this one-hundred-day checkpoint reveal?
Image of two IBM Executives, Arvind Krishna and James Whitehurst and the tagline: The First 100 Days Performance.
Arvind missed his chance for change
Is there an IBM “New Deal?” ​Or is Arvind serving up the same old Gerstner-Palmisano-Rometty (GPR) stuff?

An Analysis of the Kyndryl Strategy
The announcement of the breakup of IBM will only exacerbate the company’s current most-pressing problem, not cure it.

​The spike in stock price is a “Wall Street” phenomenon, not a “Main Street” or “Stakeholder” affirmation of the decision.

Picture of an Elephant disintegrating in a sandstorm with the tagline:
A John Akers' déjà vu moment
​Reality will set in soon enough because when it comes to business fundamentals, Main Street and corporate stakeholders have proven themselves better able to understand long-term realities than Wall Street.

Was martin Schroeter a good choice as KYNDRYL CEO?
Martin’s chief executive track record (CFO) is that of a financially-minded individual whose actions seem to indicate that he has little understanding of what it takes to build, maintain, and grow a sales organization.

​From the press release it is stated that Mr. Schroeter was IBM’s CFO from 2014 to 2017.

A slide image showing the questioning of the IBM NewCo name of Kyndryl and surprise at Martin Schroeter being named CEO.
Really! After this IBM performance?
​Does his track record as IBM's CFO indicate that he was a good choice?

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