By Colin Kellaher


International Business Machines Corp. on Thursday appointed Martin Schroeter chief executive of the independent company that will be created through the spinoff of its managed-infrastructure-services business.

The Armonk, N.Y., technology giant said Mr. Schroeter--a nearly 30-year IBM veteran who was serving as senior vice president of global markets when he left the company in June--will rejoin the company to take the new post on Jan. 15.

In October, IBM announced the spinoff--its biggest-ever business exit--to accelerate its focus on faster-growing businesses such as cloud computing and artificial intelligence. The company said it expects the separation to occur by the end of 2021.

Mr. Schroeter initially joined IBM in 1992 and held a number of executive posts at the company, including a stint as chief financial officer from 2014 to 2017.


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(END) Dow Jones Newswires

January 07, 2021 06:51 ET (11:51 GMT)

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