IBM President Jim Whitehurst steps down less than two years after he joined through Red Hat acquisition

Jim Whitehurst, CEO of Redhat and Ginni Rometty, CEO of IBM focus on IBM’s purchasing Redhat.

Adam Jeffery | CNBC

IBM stock fell larger than 4% on Friday after the enticing in application and hardware maker acknowledged that its president, Jim Whitehurst, has chosen to step down.

Whitehurst arrived in 2008 thru the $34 billion acquisition of starting up-offer application firm Red Hat, IBM’s ideal acquisition to this level, which closed in mid-2019. He had been Red Hat’s president and CEO from 2008 till April 2020, when he became IBM’s president.

The switch reflects a brand new project for IBM, which has pursued enhance in share thru specializing in deploying Red Hat’s merchandise on just a few clouds, including main suppliers comparable to Amazon and Microsoft. Sooner than the deal, IBM promoted its bear public-cloud infrastructure to prospects, moreover promoting merchandise that firms might well perchance perchance deploy in their bear knowledge centers.

Arvind Krishna, who changed Ginni Rometty IBM’s CEO since final 300 and sixty five days, used to be “a first-rate architect” of the Red Hat deal, IBM acknowledged final 300 and sixty five days within the announcement about Whitehurst’s promotion. The firm praised Whitehurst for his execution. “Against his tenure at Red Hat, income grew over eight events and market capitalization by larger than 10 events,” IBM acknowledged.

In the important quarter Red Hat’s income grew 17%, whereas IBM as a complete grew 1%.

WATCH: IBM CEO Arvind Krishna on the firm’s ‘hybrid cloud’ approach

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