IBM is working to transition from a software and services business to a cloud company. But as it undergoes this transformation, its brand value has slid, down 13% in 2015 and another 8% in 2016.
But Cheung said the company is investing in cognitive computing and artificial intelligence, which has impressed the public.
First published June 7, 2016: 8:49 PM ET
Methodology: The 2016 BrandZ ranking of the most valuable brands in the world was carried out by Millward Brown, part of advertising firm WPP. It calculates brand value by using in-depth financial data and interviews with over three million consumers around the world.
