Martin Schroeter, former senior vice president for global markets at IBM (NYSE: IBM), has been named CEO of NewCo, an independent company that will be formed once IBM spins off its managed infrastructure services business by the end of 2021.
Effective Jan. 15, Schroeter will oversee the new company that will focus on information technology infrastructure modernization and management, IBM said Thursday.
IBM announced in October that it will split into two public companies by spinning off the managed infrastructure services unit as part of its efforts to focus on hybrid cloud and artificial intelligence capabilities.
Arvind Krishna, chairman and CEO of IBM, said Schroeter will bring to the new independent company his leadership experience, strategic vision, understanding of the industry and business judgment as NewCo works to expand its presence in the managed infrastructure services area.
Schroeter joined IBM in 1992 and has held senior leadership roles at the company, including chief financial officer and general manager of IBM Global Financing.