Lou Gerstner (born 1942) rescued IBM, the world's largest computer maker, when he became its CEO in 1993. His career has been a study in corporate strategy and how to turn ailing companies around.

For most of its long history, IBM symbolized American ingenuity and corporate power. The company held a special place in the hearts and minds of the public and became more than a corporation--almost a national treasure--based on its development of the computer industry. In the mid-1980s, with the arrival of the personal computer, IBM was slow to realize the wholesale changes the new systems would bring to their business. After losing money for a decade, the decision was made to hire Louis Gerstner as chairman and CEO. He had gained an impressive reputation for rebuilding American Express and RJR Nabisco, and it was hoped that he could do the same for IBM. Gerstner was the...