IBM Appoints Martin Schroeter as CEO of "NewCo" Independent Managed Infrastructure Services Business to Spin Out from IBM
IBM has appointed Martin Schroeter as the new CEO of its Managed Infrastructure Services business, referred to as NewCo, effective January 15, 2021. The spin-off is expected to finalize by the end of 2021. Schroeter previously held key roles at IBM, including Senior Vice President of Global Markets and Chief Financial Officer. He brings extensive industry knowledge and leadership experience, which positions him well to lead NewCo in modernizing IT infrastructure globally. IBM's Chairman emphasized Schroeter's strategic vision as essential for the company's future success.
- Martin Schroeter brings extensive experience as former CFO and SVP, Global Markets.
- Schroeter's leadership expected to drive strategic growth and innovation at NewCo.
- The spin-off could enhance focus on managed infrastructure services.
- None.
ARMONK, N.Y., Jan. 7, 2021 /PRNewswire/ -- IBM (NYSE: IBM) today announced the appointment of Martin Schroeter as Chief Executive Officer of the independent company that will be created following the separation of IBM's Managed Infrastructure Services business ("NewCo"), effective January 15. NewCo will focus on the management and modernization of IT infrastructure in every industry around the world. The previously announced separation is expected to occur by the end of 2021.
Mr. Schroeter served as IBM's Senior Vice President, Global Markets, where he was responsible for IBM's global sales, client relationships and satisfaction, and worldwide geographic operations, before leaving IBM in June 2020. Prior to that he was IBM's Chief Financial Officer and has held a number of other executive roles at the company.
"Martin is a world-class leader and is uniquely qualified to drive the long-term success of the new, independent company," said Arvind Krishna, Chairman and CEO of IBM. "He has a deep understanding of the industry and has earned the trust of our clients and of the investor community. Martin has the strategic vision and business judgement to realize NewCo's enormous potential as the global leader in managed infrastructure services. He is an inspiring, results-driven executive and the right CEO to lead NewCo through the spin-off process and beyond."
"NewCo is a trusted partner to the world's most global enterprises with a team that has the best skills and experience in the industry," Schroeter said. "I look forward to developing a diverse ecosystem of partnerships and alliances, to continuing a deep relationship with IBM, and to the creation of market leading capabilities."
Mr. Schroeter served as IBM's Senior Vice President, Global Markets between December 2017 and April 2020. In that role, he had responsibility for IBM's global sales, client relationships and satisfaction and worldwide geographic operations. He also oversaw IBM's marketing and communications functions and was responsible for building the company's brand and reputation globally. Mr. Schroeter was IBM's CFO from 2014 to 2017, and prior to that, served as General Manager of IBM Global Financing, where he managed a total asset base in excess of
Contact:
Jonathan Adashek
jonathan.adashek@ibm.com
(914) 499-6606
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SOURCE IBM
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