IBM Chief Arvind Krishna Says Nothing Illegal About Hiring Practices After Musk's Alarm Over Leaked Video: 'I Have Thick Skin'
Portfolio Pulse from Shanthi Rexaline
IBM CEO Arvind Krishna addressed concerns over a leaked video that discussed executive bonuses tied to diversity hiring. He clarified that the bonuses are legal and a small part of overall compensation, emphasizing business performance as the primary driver. Krishna also highlighted IBM's history of inclusivity and advised employees not to engage with the controversy. IBM shares saw a slight increase in premarket trading.
December 14, 2023 | 11:38 am
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IBM CEO Arvind Krishna responded to a leaked video controversy, defending the company's diversity hiring practices and emphasizing their legality and alignment with business performance. Shares rose slightly in premarket trading.
The CEO's clarification on the legality and intention behind the diversity hiring practices, along with the historical context of IBM's inclusivity, may reassure investors and mitigate negative sentiment. The slight uptick in premarket trading suggests a modest positive short-term impact on the stock.
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IMPORTANCE 60
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