Louis V. Gerstner Jr., the executive who orchestrated IBM's dramatic turnaround in the 1990s, died Saturday in Jupiter, Florida. He was 83. Kara Klein, executive director of Gerstner Philanthropies, confirmed his death in a hospital. The cause of death was not disclosed.
Gerstner took the helm of IBM in 1993. He was recruited from RJR Nabisco. This marked the first time IBM appointed an outsider as CEO since its founding in 1911. His arrival signaled the depth of IBM's crisis.
The company faced plummeting mainframe revenue. The rise of personal computing, led by Microsoft and Intel, threatened IBM's dominance. Predictions of IBM's downfall were widespread. Gerstner's leadership averted this collapse.
IBM had long dominated the mainframe era. The shift to cheaper, more accessible personal computing challenged its core business. Gerstner refocused IBM on software and services.
The future impact on the tech industry remains to be seen. Gerstner's legacy as a turnaround expert is secure. Further details are expected from Gerstner Philanthropies.
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