What is Ginni Rometty's net worth and salary?
Ginni Rometty is an American business executive who has a net worth of $90 million. Ginni Rometty is best known for being the former chairwoman, president, and CEO of IBM. In a typical year at the peak of her time with IBM, her salary (base, bonus and security benefits) totals around $33 million. Under Rometty's leadership, IBM transformed its business model to focus on emerging technologies, such as cloud computing, artificial intelligence, and cybersecurity. She joined the company in 1981 as a systems engineer before working her way up to head global sales, marketing, and strategy. She has been named to Bloomberg's 50 Most Influential People in the World as well as Time's 20 Most Important People in Tech, Fortune's 50 Most Powerful Women in Business, and Forbes' America's Top 50 Women in Tech. Ginni stepped down as CEO in April 2020.
Ginni Rometty Stock Holdings
Ginni is the largest individual shareholder in IBM. She holds 206,000 shares directly and another 96,000 restricted stock units. In recent years, those shares have been worth around $40 million.
Early Life and Education
Born Virginia Rometty, she grew up in a working-class family in the Chicago suburb of Arlington Heights. Her parents divorced when she was a teenager, leaving her mother to raise four children on her own. Despite facing financial challenges, Rometty's mother instilled in her the importance of hard work, perseverance, and education.
Rometty attended Northwestern University, where she earned a Bachelor of Science degree in Computer Science and Electrical Engineering. While at Northwestern, she was a member of the Kappa Kappa Gamma sorority and held various leadership roles within the organization.
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Joining IBM
In 1981, Ginni Rometty began her career at IBM as a systems engineer, working with clients to identify and solve their technology challenges. Over the next several years, Rometty held various positions within the company, focusing on sales, marketing, and strategic planning. Her strong performance and leadership abilities led to a steady rise through the ranks at IBM.
Senior Vice President of IBM Global Business Services
In 2002, Rometty was named Senior Vice President of IBM Global Business Services, where she was responsible for overseeing the integration of PricewaterhouseCoopers Consulting following IBM's acquisition of the firm. This merger created one of the world's largest consulting businesses, and Rometty's successful management of the integration process helped to solidify her reputation as a skilled and effective leader.
IBM's First Female CEO
In October 2011, IBM announced that Ginni Rometty would succeed Samuel J. Palmisano as the company's President and CEO, making her the first woman to lead the tech giant in its 100-year history. Rometty officially assumed the role on January 1, 2012, and later that year, she also became the company's Chairman.
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Transformation and Strategic Imperatives
As IBM's CEO, Rometty oversaw a period of significant transformation for the company. She shifted IBM's focus away from its traditional hardware and software businesses, instead prioritizing emerging technologies such as cloud computing, artificial intelligence (with the development of IBM Watson), and cybersecurity. These areas, which Rometty referred to as "strategic imperatives," became the driving forces behind IBM's growth and innovation during her tenure.
Acquisition of Red Hat
In 2018, under Rometty's leadership, IBM announced the acquisition of Red Hat, an open-source software company, for $34 billion. This marked the largest acquisition in IBM's history and signaled a major strategic move to strengthen the company's position in the rapidly growing cloud computing market.
Retirement and Legacy
In January 2020, Ginni Rometty announced her plans to retire from her role as IBM's CEO, effective April 2020. She was succeeded by Arvind Krishna, the company's Senior Vice President of Cloud and Cognitive Software. Rometty continued to serve as IBM's Executive Chairman until her retirement at the end of 2020.
Throughout her nearly 40-year career at IBM, Ginni Rometty broke numerous barriers and left an indelible mark on the technology industry.
