Economic Downturns by IBM CEO

Comparing IBM CEO Economic Recessions
Date Published: August 7, 2021
Date Modified: June 29, 2024
We were sailing smoothly with the wind and we were so strong that we thought nothing could harm us. We had all the bank credit we could possibly use. We dwelt on Easy Street and walked on velvet. Then, in the fall of 1921 not out of a clear sky but out of a sky which looked clear to us, for, in our prosperity, we had stopped thinking - the tornado swept out, gripped us, and shook us.
Harvey S. Firestone, Men and Rubber: The Story of Business​
 IBM Chief Executive Officers' Business Cycle Contractions
An economic downturn tests a Chief Executive Officer's mettle. Capitalist economies weed out the mediocre during tough economic times, leaving only the most fit. Economic downturns are, if anything, a capitalistic certainty. If the 21st Century resembles the 20th, there are more downturns to come; possibly, sixteen more recessions await us and our children's children.

​Let's study our earlier political and economic leaders decisions during these most dire of times so we are better prepared for these future certainties when they arrive.

These are the economic contractions [Economic Expansions Are Here].
  • Business Cycle Contraction Observations:
    • Watson Sr. far outdistanced any other chief executive officer in economic contractions
    • Tom Watson Jr. was in a distant second place
    • Frank T. Cary open and closed his time with bookend recessions
    • Samuel J. (Sam) Palmisano had the "Great Recession"
* Arvind Krishna has not been added to this chart since the National Bureau of Economic Research (NBER) takes time to determine inflection points such as recessions or expansions in the economy. It is worth noting that Virginia M. Rometty retired before the full effect of the coronavirus situation could be felt.

Many economists feel certain that an economic downturn was taking effect after the 1st Quarter of 2020, but, as always, let's wait on the data.
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