This case examines IBM's financial performance and its capital allocation choices over a 10-year span from 2004-2013, during which more than $140B was returned by IBM to shareholders through a mixture of dividends and share repurchases. In this time, CEO Sam Palmisano's created, declared, and then regularly updated a long-term financial "roadmap" as element of the firm's strategic transformation.
After successfully achieving its first roadmap, the company announced a second 5-year roadmap known as the "2015 EPS roadmap". The case is set after the annual investor briefing of IBM, only in May 2014. Despite over 10 years of strong financial performance, IBM reported financial results that were comparatively poor in the first quarter of 2014.
This is just an excerpt. This case is about FINANCE & ACCOUNTING
PUBLICATION DATE: May 26, 2015 PRODUCT #: 215058-PDF-ENG
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