IBM Shares Surge As Company Names Cloud Chief New CEO


The shares of the International Business Machines Corporation (NYSE: IBM) surged in Thursday's after-hours session as the company announced changes in top management.

What Happened

Ginni Rometty, who took over as the IBM CEO in 2011, is stepping down from the role, the company said in a statement Thursday.

Arvind Krishna, who leads the company's cloud and data platform, will be her replacement, and take charge on April 6.

Rometty will continue to serve as the Executive Chairman of IBM until the end of 2020 when she retires altogether from the company she joined as a systems analyst four decades ago.

James Whitehurst, the CEO …

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