IBM's 'surprise' CEO: Arvind Krishna to take over from Ginni Rometty

This post was originally published on this site

(Reuters) – International Business Machines Corp’s (N:) Ginni Rometty, the first woman chief executive of the tech pioneer, will be replaced in April by the head of its fast-growing cloud business, Arvind Krishna.

While the leadership change was largely expected, Wall Street analysts were surprised by the timing and the choice of Krishna as the CEO.

“We believe the frontrunners in most investors’ minds had been either Jim Whitehurst (former CEO of Red Hat) or former CFO Martin Schroeter,” said Bernstein analyst Toni Sacconaghi.

Here are some facts about the CEO-to-be, who has spent nearly three decades with the Big Blue.

– Krishna has an undergraduate degree from the Indian Institute of Technology, Kanpur, India, and a Ph.D. from the University of Illinois at Urbana-Champaign.

– He is IBM’s 10th chief executive in the company’s 108-year-old history.

– Krishna started his career in IBM’s Watson Research in December 1990 and was part of the team until July 2009, according to his LinkedIn (NYSE:) profile

– In 2013, he was named general manager of IBM Systems and Technology Group’s development and manufacturing organization, responsible for developing and engineering advanced semiconductor materials.

– Krishna is known as the “principal architect” of IBM’s biggest acquisition ever, Red Hat, which the company bought for $34 billion last year.

– In an interview with Business Insider in August last year, he said the hybrid cloud market could be worth about $1.2 trillion in aggregate in the future.

– In an interview with CNN Money this week, he has predicted the commercial availability of quantum computers within this decade. It is “no longer science fiction”, he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment