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IBM Appoints Martin Schroeter As CEO Of Independent Firm NewCo

American multinational technology company, IBM on Jan 7 said that it has appointed Martin Schroeter as Chief Executive Officer of independent company, NewCo.

IBM

American multinational technology company, IBM on January 7 said that it has appointed Martin Schroeter as Chief Executive Officer of the independent company, NewCo that will be created after the separation of IBM’s Managed Infrastructure Services business, effective from January 15. The management consulting company also said that NewCo will focus on the management and modernisation of the IT infrastructure in industries across the globe after the mentioned separation occurs by the end of 2021. 

NewCo’s CEO, Martin Schroeter has previously served as IBM’s Senior Vice President, Global Markets where he was primarily responsible for IBM’s global sales, client relationships and satisfaction, and worldwide geographic operations. According to the official statement by the New York-based company, he had left IBM in June 2020 after holding the responsibility of IBM’s Chief Financial Officer. He has held a range of other executive roles in the company. 

On his appointment, Schroeter said, “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...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.”

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IBM CEO calls Schroeter ‘world-class leader’

On Schroeter’s appointment as NewCo’s CEO, Arvind Krishna, the chairman and CEO of IBM called the former ‘world-class leader’. Further hailing Schroeter’s abilities, Krishna said that the newly-appointed CEO has a “deep understanding” of the entire industry and has subsequently earned the trust of IBM’s clients along with the investor community. Krishna said that Schroeter has a “strategic vision” along with business judgement to realise the potential of NewCo.

"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."

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