Advertisement
YOU ARE HERE: LAT HomeCollectionsJohn Akers
IN THE NEWS

John Akers

FEATURED ARTICLES
BUSINESS
February 8, 1993 | From Reuters
The quest to replace John Akers as head of International Business Machines Corp. has intensified, as some executives have quashed speculation that they are candidates for the job while new candidates have emerged. Paul Stern, the controversial, no-nonsense chairman and chief executive of Northern Telecom Ltd., is seen as a top contender being considered by IBM's search panel, industry analysts said.
ARTICLES BY DATE
BUSINESS
April 3, 2012 | Michael Hiltzik
Few institutions revel in the reputation of being a dinosaur like Georgia's Augusta National Golf Club, host of the Masters Tournament. Augusta has never admitted a woman to membership and has even tried to portray its adamantine stance as a virtue: When activist Martha Burk launched a public challenge to its males-only membership policy in 2002, the club's then-chairman, Hootie Johnson, won plaudits (in some quarters) for declaring that although the club might admit women at some time in the future, it would not make a decision "at the point of a bayonet.
Advertisement
BUSINESS
January 20, 1993 | JONATHAN WEBER, TIMES STAFF WRITER
International Business Machines on Tuesday said it lost $4.96 billion in 1992, the largest annual loss in U.S. corporate history, capping a year so miserable that it may yet cost company Chairman John F. Akers his job. The results came as no surprise after IBM's December announcement that it would cut 25,000 jobs this year and take a huge charge against earnings, but the figures nonetheless painted a grim portrait of a company in precipitous decline.
BUSINESS
March 11, 1994 | From Times Staff and Wire Reports
IBM's Akers Got $4 Million; Layoffs Announced: John Akers, the former IBM chairman and chief executive who resigned under pressure last year, received more than $4 million from the company, according to a new shareholder proxy statement. The money came in the form of salary, bonus, pension, stock options and a "retirement incentive" valued at $3.43 million. Akers was replaced by Louis V. Gerstner Jr.
BUSINESS
January 27, 1993 | VICTOR F. ZONANA, TIMES STAFF WRITER
"I missed your name," said John F. Akers glacially when a reporter was impertinent enough to ask at an analysts meeting last month whether he had considered stepping down as chairman and chief executive officer of International Business Machines Corp. After making a mental note of the offending questioner's identity, the 58-year-old former Navy aviator responded through clenched teeth: "No, I have not given thought to stepping aside.
BUSINESS
June 2, 1991 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Revenues are sagging, profits are falling, customers are defecting--and International Business Machines Chairman John F. Akers is mad as hell about it. After six years as chairman of the world's largest computer maker, Akers is showing increasing signs of frustration that his efforts to reshape IBM to fit a faster moving, more competitive and cost-conscious marketplace haven't worked.
BUSINESS
June 20, 1991 | From Times Staff and Wire Reports
IBM Chief Still Pushing for Harder Workers: IBM Chairman John Akers, who lectured managers in April about complacent employees in the face of declining market share, took his frustrations to his work force in an electronic memo, according to a published report. Akers on Friday sent an electronic message to employees reiterating his original point that employees need to work harder, The New York Times reported.
BUSINESS
March 16, 1993 | From Times Staff and Wire Reports
IBM Trims Chairman's Pay by 17%: IBM said its chairman and chief executive, John Akers, pulled down $1.3 million last year, a 17% pay cut from 1991. A replacement search is under way for Akers. The beleaguered computer maker announced the compensation package in New York in a proxy statement prepared for its 1992 annual meeting. Akers' incentive payout, based on International Business Machines Corp. operating results, was $375,000, a decline of 42% from 1991.
BUSINESS
March 11, 1994 | From Times Staff and Wire Reports
IBM's Akers Got $4 Million; Layoffs Announced: John Akers, the former IBM chairman and chief executive who resigned under pressure last year, received more than $4 million from the company, according to a new shareholder proxy statement. The money came in the form of salary, bonus, pension, stock options and a "retirement incentive" valued at $3.43 million. Akers was replaced by Louis V. Gerstner Jr.
BUSINESS
January 28, 1993 | MICHAEL SCHRAGE, Michael Schrage is a writer, consultant and research associate at the Massachusetts Institute of Technology. He writes this column independently for The Times
So IBM's Top Gun has been shot down. John F. Akers, the former Navy fighter pilot who presided over the decline of the world's largest computer company, has taken the hit and humiliation of a public resignation. Now the feverish speculation begins: Will IBM's directors tap a Big Blue insider as boss in a desperate bid to defy the Peter Principle? Or will IBM's new chairman and chief executive be a real outsider, such as Ross (It's just that simple!) Perot?
BUSINESS
September 14, 1993 | From Times Staff and Wire Reports
IBM Restructuring Continues: Chairman Louis V. Gerstner Jr. is shuffling the duties of top executives and discarding a top-level management committee that would sometimes reach into divisions to settle problems. The moves, outlined in a memo to employees, are designed to encourage faster decision making and end the IBM habit of bucking minor disputes up the corporate ladder.
BUSINESS
February 28, 1993 | LINDA GRANT, TIMES STAFF WRITER
One month into the search for a chief executive capable of transforming International Business Machines, a seven-member team of directors has decided to focus exclusively on candidates from outside the company, sources close to IBM say. Initially, the committee--led by former Johnson & Johnson Chief Executive James E. Burke--favored hiring either someone from inside the besieged computer firm or a former IBM executive, these sources say.
BUSINESS
February 8, 1993 | From Reuters
The quest to replace John Akers as head of International Business Machines Corp. has intensified, as some executives have quashed speculation that they are candidates for the job while new candidates have emerged. Paul Stern, the controversial, no-nonsense chairman and chief executive of Northern Telecom Ltd., is seen as a top contender being considered by IBM's search panel, industry analysts said.
BUSINESS
January 28, 1993 | MICHAEL SCHRAGE, Michael Schrage is a writer, consultant and research associate at the Massachusetts Institute of Technology. He writes this column independently for The Times
So IBM's Top Gun has been shot down. John F. Akers, the former Navy fighter pilot who presided over the decline of the world's largest computer company, has taken the hit and humiliation of a public resignation. Now the feverish speculation begins: Will IBM's directors tap a Big Blue insider as boss in a desperate bid to defy the Peter Principle? Or will IBM's new chairman and chief executive be a real outsider, such as Ross (It's just that simple!) Perot?
NEWS
January 27, 1993 | JONATHAN WEBER, TIMES STAFF WRITER
International Business Machines Corp., reeling from a disastrous two-year slump and facing intense criticism from investors, said Tuesday that John F. Akers would step down as chief executive of the world's biggest computer maker as soon as a successor is found. IBM also said Tuesday that for the first time it would cut its shareholder dividend--more than halving it to an annual rate of $2.16, from $4.84, a move that will save billions of dollars.
BUSINESS
January 27, 1993 | VICTOR F. ZONANA, TIMES STAFF WRITER
"I missed your name," said John F. Akers glacially when a reporter was impertinent enough to ask at an analysts meeting last month whether he had considered stepping down as chairman and chief executive officer of International Business Machines Corp. After making a mental note of the offending questioner's identity, the 58-year-old former Navy aviator responded through clenched teeth: "No, I have not given thought to stepping aside.
BUSINESS
May 30, 1991 | From Associated Press
IBM Chairman John Akers has been making blunt speeches to his managers warning that the computer industry is in a crisis and that company employees are "too damn comfortable" as it loses business. Akers' comments may indicate deeper trouble at one of the nation's most important companies than it has publicly let on. IBM has blamed the poor economy worldwide--not internal shortcomings--for lower sales and profit it reported in the first quarter.
BUSINESS
January 20, 1993 | JONATHAN WEBER, TIMES STAFF WRITER
International Business Machines on Tuesday said it lost $4.96 billion in 1992, the largest annual loss in U.S. corporate history, capping a year so miserable that it may yet cost company Chairman John F. Akers his job. The results came as no surprise after IBM's December announcement that it would cut 25,000 jobs this year and take a huge charge against earnings, but the figures nonetheless painted a grim portrait of a company in precipitous decline.
Los Angeles Times Articles
|