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IBM's NewCo Has Its CEO

TheMotleyFool

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IBM's (NYSE: IBM) spinoff took a huge step forward today. The company tapped Martin Schroeter to serve as the CEO of the company now known as "NewCo."

Effective Jan. 15, Schroeter will head what is now IBM's managed infrastructure services business. The company expects the spinoff of that enterprise to occur by the end of this year.

CEO Arvind Krishna, who first announced the spinoff in October, praised Schroeter's leadership skills and qualifications: "Martin has the strategic vision and business judgment 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 spinoff process and beyond."

Source Fool.com

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