IBM names new CEO: DJ
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12:09pm 01/29/02 IBM names new CEO: DJ (IBM) By Tomi Kilgore
IBM (IBM) has named Samuel Palmisano as chief executive, replacing Louis Gerstner, who will stay on as CEO through the end of 2002, Dow Jones is reporting. In addition, John Thompson will retire as vice chairman effective Sept. 1, Dow said. The stock, a component of the Dow Industrials ($INDU) , is shedding $4.05, or 3.7 percent, to $104.10. Earlier in the session, the stock was up as much as 45 cents at $108.60.