Sunday Business, a UK newspaper about business which is published on Sundays, has announced Sir Lou Gerstner's retirement from IBM.

Sir Lou will step down in March next year, according to the paper, which cites no sources.

"Although no formal announcement is expected until early next year, when his contract runs out, Gerstner has let it be known to close colleagues that he plans to step aside," SB's e-business correspondent Guy Dresser writes.

His tip for the top, following Gerstner's departure, is Sam Palmisano, currently chief operating officer at IBM.

His Excellency Sir Lou de Grand Bleu was beknighted in the Queen's Birthday Honours List this year. As an American citizen, the title is strictly honorary and he's not supposed to be called Sir Lou. This seems simewhat churlish: what is the point of having an knighthood if you can't exercise the ancient rights that this charming custom affords - such as droit de seigneur and queue-jumping in swanky restaurants. ®