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Purpose and benefits

Lou Gerstner’s business career seems almost too good to be true. After a broad education, taking in engineering and business, Gerstner went to work for the management consultancy McKinsey. He was appointed senior partner at 31—the youngest ever. There followed an equally impressive progression through blue chips American Express and RJR Nabisco. At Amex, Gerstner revitalised the fledgling credit card business. At RJR he made inroads into a mountain of debt, preparing the company for the megamerger of the century. The IBM job seemed like a no-win scenario: the once-great company, holed below the waterline, looked to be sinking faster than the Titanic. Gerstner reportedly took the job only after head-hunters Heidrick & Struggles persuaded him it was ‘for the good of the country’. With Gerstner’s ingredients in the mix, an apparently poisoned chalice turned out to be a tasty, refreshing brew. Eight years on and IBM was back, holding its own with the best of the IT heavyweights, both young and old.