IBM CEO Ginni Rometty to step down

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Current CEO Virginia Rometty will retire after spending close to 40 years in the company, and for the last 8 years, she served as the CEO of IBM.

IBM says Rometty will remain with the company as chairman of the board, and that its board of directors has selected Krishna to replace Rometty starting April 6.

- Krishna is known as the "principal architect" of IBM's biggest acquisition ever, Red Hat, which the company bought for $34 billion past year.

Krishna, who graduated from the Kanpur city campus of India's premier Indian Institute of Technology (IIT), joined IBM back in 1990 after he acquired a doctorate in electrical engineering from the US-based University of IL. He joined IBM in 1990.

IBM has named a new leadership team, including a new CEO and president, as longtime leader Ginni Rometty announces her retirement, the company announced Thursday. He is the guiding force behind IBM's strategy in technologies such as artificial intelligence, quantum computing, blockchain, cloud platform services, data-driven solutions and nanotechnology. He is also a superb operational leader, able to win today while building the business of tomorrow.

"With the strong foundation now established by Ginni for IBM's future, the board is confident that Arvind is the right CEO to lead IBM".

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Where did Arvind Krishna study?

IBM credited Ms Rometty with reinventing more than 50 per cent of IBM's portfolio following acquisitions of 65 companies and extensive in-house research and development efforts.

Mr. Krishna said IBM has such talented people and technology that we can bring together to help our clients solve their toughest problems.

"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.

Since Arvind heads the Cloud division, it is clear that IBM wants to bet heavily on the emerging market of Cloud technologies, and the best way forward is by appointing an expert of this domain. He was involved with the company's purchase of Red Hat, an American multinational software company previous year.

Krishna, also the co-author of 15 patents, has been the editor of IEEE and ACM journals, News18 reported.

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