I would wait to see if they replace the CEO. If they do I would hold the stock. If they don't I would sell as the decline will continue to year end and erode further in 2015.
Sure blame it on Sam P. Even better, how about it is Bush's fault. Rometty is the CEO and the Board must act to restore investor confidence. Otherwise the stock drifts to 125. Enough excuses, new leadership is required.
A real CEO takes responsibility and is accountable for the results. Ignorance stems from a lack of education. Failing CEO's blame others for their lack of performance. Blaming the number crunchers for long term guidance is a poor excuse. The CEO could have changed the guidance when she came in but chose not to and is not paying the price with investors.
CEO change may be in order. IBM is losing Wall Street's confidence fast. CEO does not appear to have command of the business. Need to get a real technology Pro in there to turn the ship around.
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