- July 3, 2021
- Posted by: Stratford Team
- Category: Business
IBM’s ‘5 in 5’ tech predictions
IBM announced Friday that Jim Whitehurst is out as president of the company after 14 months at the helm, detailing a major shake-up in its leadership team. Investors did not appear to take kindly to the news, as the tech giant’s stock took a hit registering the biggest percentage drop since January.
Ticker Security Last Change Change %IBM INTERNATIONAL BUSINESS MACHINES CORP. 140.02 -6.82 -4.64%
In a post on the company’s website, IBM Chairman and CEO Arvind Krishna heaped praise on Whitehurst for his role in overseeing a smooth integration with Red Hat – the open-sourced software firm IBM acquired in 2019 (and where Whitehurst served as CEO from 2008 until his promotion last year) – before explaining that Whitehurst had stepped down but will stay on as a senior advisor to the executive leadership team.
But that’s not the only change that is happening at the top of the company.
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