IBM Names Arvind Krishna CEO, Replacing Ginni Rometty

An anonymous reader writes: IBM named Arvind Krishna as chief executive officer, replacing longtime CEO Virginia Rometty. Krishna, 57, is currently the head of IBM’s cloud and cognitive software unit and was a principal architect of the company’s purchase of Red Hat, which was completed last year. Rometty, 62, will continue as executive chairman and serve through the end of the year, when she will retire after almost 40 years with the company, IBM said in a statement Thursday. The shares rose about 5% in extended trading. Since becoming IBM’s first female CEO in 2012, Rometty had bet the company’s future on the market for hybrid cloud, which allows businesses to store data on both private and public cloud networks run by rivals such as AmazonWebServices and Microsoft Corp.’s Azure. By then Big Blue, once the world leader in technology, had lagged behind competitors for years after largely missing the initial cloud revolution under her predecessor, Sam Palmisano. The announcement comes as a “welcome and overdue leadership change,” said Wedbush Securities analyst Moshe Katri. “At least that’s how we’re looking at it — and obviously the market seems to agree.” “Krishna, her successor, was the mastermind behind the Red Hat deal. He proposed the acquisition to Rometty and the board, suggesting hybrid cloud is the company’s best bet for future growth,” adds Bloomberg. “He has led the development of many of IBM’s newer technologies like artificial intelligence, cloud and quantum computing.” “Prior to IBM adopting its hybrid multi-cloud strategy, the company had a walled-garden approach to cloud computing, largely focusing on its own services. Krishna spearheaded IBM’s shift toward hybrid, prompting the company to work with rival providers rather than compete against them.” Slashdot reader celest adds: In case there were still any doubts that IBM is turning into Red Hat, not the other way around, Red Hat CEO Jim Whitehurst has just been named President of IBM. (Full disclosure: I’m the open-source strategy guy at IBM Canada).