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Ginni Rometty to Step Down as C.E.O. of IBM Ginni Rometty to Step Down as C.E.O. of IBM
(32 minutes later)
Ginni Rometty is stepping down as chief executive of IBM.Ginni Rometty is stepping down as chief executive of IBM.
Ms. Rometty, who became chief executive in 2012, struggled to achieve growth at the technology giant as it made the transition to new fields like cloud computing and artificial intelligence.Ms. Rometty, who became chief executive in 2012, struggled to achieve growth at the technology giant as it made the transition to new fields like cloud computing and artificial intelligence.
She will be replaced in April by Arvind Krishna, who now runs the company’s cloud computing business.She will be replaced in April by Arvind Krishna, who now runs the company’s cloud computing business.
The timing of the departure of Ms. Rometty, 62, came as a surprise, made after the close of the market on Thursday in a lengthy statement filled with praise from IBM’s board. She will remain as executive chairman of the board until the end of the year.
Ms. Rometty was one of the leading women executives in the corporate world, a frequent speaker at conferences, and liked and admired by her chief executive peers.
Her assessments of the challenges facing IBM, an old-line technology company making a difficult transition, were cleareyed and candid. In an interview in 2014, for example, she said the next couple of years would be a “rocky time” for IBM.
Shares in the company rose almost 4 percent in after-hours trading.
This is a developing story. Check back for updates.This is a developing story. Check back for updates.