Jim Kavanaugh

And by the way, a lot of their behind the scenes things have happened leading up to both of our positions.

But number one, he said,

IBM historically has always delivered differentiated value over 114 years when we had high value innovation platform models that we could create distinctive advantage.

Arguably, we haven't had one since the middleware era in the early 2000s.

Allah, his vision, hybrid cloud, AI, Red Hat acquisition, and what we've done with the portfolio.

So he wanted to convert IBM into a platform-centric business, opening up IBM, which I think is one of the most underappreciated things he's done in the company, creating strategic partnerships, moving away from a historical proprietary IBM,

to one that is coopetition and strategically complementary to other areas.

Point number one.

Number two, he had to change the mindset in this company that we've got to drive durable, sustainable growth, a growth mindset overall.

And three, I think culturally, what has IBM always been known for?

responsible, ethical technology that makes a difference in the world, in industry, society at large, technology for good.

I think in a very short period of time, when you check one, check two, check three, he's well on his path.

And I think that goes back to how I answered your first question.

That market valuation and how the market is looking at us, while that is great, that's in the rear view mirror, all time stock price, all time enterprise value, you know, created more value in the last three years than a previous 111.

What makes us most excited

is the engagement and momentum of every IBMer with a step in their walk right now.

And I think that's a pride statement and that's a relevancy statement with clients.

So that's kind of how I would wrap it up.

Appreciate it.

Thank you again.