Loading...

Former IBM CFO and SVP of global markets Martin Schroeter to head spin-off unit

Former IBM CFO and SVP of global markets Martin Schroeter to head spin-off unit
Photo Credit: 123RF.com
11 Jan, 2021

IBM announced last week that it has appointed former senior vice president for global markets Martin Schroeter as the new head of the company’s Managed Infrastructure Service Business, temporarily called NewCo'.

The appointment comes roughly three months after the New York headquartered technology giant IBM said that it would split into two different public companies to focus more on artificial intelligence and cloud computing solutions.

Schroeter, who left IBM in June 2020, has been brought back and is expected to begin his new role from January 15, while the separation of IBM into two entities is expected to be completed by the end of 2021, according to a statement.

“Martin has the strategic vision and business judgement to realize NewCo's enormous potential as the global leader in managed infrastructure services,” Arvind Krishna, chairman and CEO of IBM said.

Read: IBM CEO Arvind Krishna to replace Rometty as chairman  

Schroeter also served as the chief financial officer of IBM during the fourth quarter of 2017, when the company’s cloud revenue increased by 30% and stood at $5.5 million, in what was the first overall revenue increase in 22 quarters. He served as the CFO from 2014 to 2017, after which, in December 2017 IBM was promoted to the post of SVP of global markets, while James Kavanaugh, the former SVP of finance and operations, was made the new CFO.

In the role of SVP of global markets Schroeter was responsible for IBM’s global sales, client relationships and satisfaction, as well as worldwide geographic operations.

Schroter joined IBM in 1992 and prior to being the CFO, he was the general manager of IBM global financing, where he managed a total asset base of over $37 billion.

The new head of NewCo is an alumnus of Carnegie Mellon University, where he pursued an MBA. He also holds an undergraduate degree in Economics and Finance from Temple University, also from Pennsylvania.