Staff of Reuters Read for 1 minute Reuters, July 2 – IBM announced on Friday that President Jim Whitehurst, who was instrumental in Big Blue’s $34 billion acquisition of Red Hat two years ago, will step down. Whitehurst was designated President of IBM in January 2020, but the firm did not say when he would quit or who would take his place. In early trading, shares of the American technology company were down roughly 3%. Whitehurst, on the other hand, will continue to serve as a senior adviser to IBM CEO Arvind Krishna and the rest of the executive leadership team, according to the company. (ibm.co/3h9FiN1) Since Krishna took over a year ago, the company has been restructuring to focus on cloud computing and artificial intelligence. Whitehurst, the former CEO of Red Hat, was tasked with overseeing IBM’s hybrid cloud strategy. (Bengaluru-based reporter Tiyashi Datta contributed to this report; Ramakrishnan M. edited it.)/n
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