Updated Sep. 26, 2012 at 9:05 a.m.

Premium Lock IBM's first female CEO becomes chairman on Oct. 1

Published: 2012-09-26 05:59:00
Updated: 2012-09-26 09:05:18

Virginia Rometty Virginia Rometty. (IBM photo) Image 1 of 2 · Next Image…
Tags: IBM

Virginia Rometty will complete her rapid ascent to the top of IBM's power structure when current chairman Sam Palmisano retires. Rometty took over as CEO on Jan. 1....

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This "CEO also being the Chairman" makes no sense to me.... What happened to the intention to improve corporate governance following, the mess that ultimately created the Sarbanes-Oxley Act? It's clearly not in the interest of shareholders that the CEO, who reports to the Board, also is allowed to be Chair the Board. That's just a flagrant violation of any make-sense governance and controls mechanisms. This not only goes for IBM of course; the law should be change and the fact it wasn't part of the S-O Act and process shows that politicians are not really interested in making a meaningful change to improve governance and protect shareholders.
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