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Gerstner hints at successor
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May 17, 2001: 8:29 p.m. ET
IBM chief mentions Palmisano as leading CEO candidate
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NEW YORK (CNNfn) - International Business Machines Corp. Chairman and CEO Louis Gerstner, in an exclusive interview Thursday on Lou Dobbs Moneyline, named IBM President and Chief Operating Officer Samuel Palmisano as the leading candidate to succeed him as CEO.
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VIDEO
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Gerstner, who has served as IBM's chief executive since 1993, is 59 years old and is expected to follow past IBM (IBM: Research, Estimates) CEOs by retiring at 60 when his contract expires. He told Dobbs that the company has been preparing a new team of leaders for the past 24 months but would not give a specific time frame for succession.
Gerstner acknowledged that the economy has slowed, but said he remains bullish on the technology sector for the long term. He also spoke to Dobbs about IBM's vision and the role of the Internet for businesses going forward. 
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