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IBM Alumnus To The Rescue Again
In both cases, the companies picked seasoned IBM execs to steady rocking ships--but that's where the similarities end. CA was plagued by an accounting scandal that forced the company to clean house and cut a big check to repay shareholders. It watched as its former chairman and CEO, the iconic Sanjay Kumar, was indicted on charges of securities fraud conspiracy and obstruction of justice. Conversely, Siebel was simply a company struggling under the weight of heavy competitive pressures and an outspoken founding CEO, Tom Siebel, who wasn't well suited to running a mature company entering its second decade of operation. But CA no doubt hopes the results will be similar. Lawrie has brought a newfound stability to Siebel the company, which had long been known for an uncompromising focus on technology and the intense micro-managing tendencies of Siebel the man. In the short time since Lawrie took the helm, Siebel Systems has reversed a recent plunge in revenue and has seen the market's confidence in it grow. It also has recast itself as a vendor focused first and foremost on successful customer implementations of its technology, a move widely applauded by customers and analysts. Naturally, Swainson faces the more challenging task of trying to bring respect back to a company that used to command it before flirting with the kind of ominous fate previously reserved for the likes of Enron, Tyco, and WorldCom. If the track record of Lawrie and other IBM execs who've stepped into CEO posts elsewhere are any indicator, it's probably a good idea to bet on Swainson pulling it off--in quiet, steady, IBM fashion. « Politics Prevails Over Intelligence | Main | Software Monitors Returns at Retailers » |
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