Martin Schroeter
Martin J. Schroeter is an American business executive. Since January 2021 he has been the CEO of the IBM spin-off company Kyndryl, which manages and modernizes IT infrastructure for customers worldwide in various industries. The spin-off of Kyndryl as a new publicly traded company is expected to be finalized by the end of 2021.
Schroeter joined IBM in 1992, rising to executive and senior executive business and financial positions, including treasurer from 2007 to 2011, general manager of IBM Global Financing from 2011 through 2013, CFO from 2014 to 2018, and senior vice president of global markets from 2018 to 2020.
He has dual citizenship in the U.S. and Australia.[1]
Education[edit]
Schroeter received a Bachelor of Business Administration degree from the Fox School of Business and Management at Temple University in 1986.[2]
He received a Master of Science in Industrial Administration (equivalent to an MBA) degree from the Graduate School of Industrial Administration at Carnegie Mellon University in 1992.[3]
Career[edit]
Schroeter joined IBM in 1992,[4] initially holding a series of staff and management roles in various business units.[5] He rose to a variety of executive positions in business lines and finance, including vice president of global technology services for the Asia-Pacific region, general manager of IBM Global Financing for the Asia-Pacific region, and chief financial officer and finance director of IBM Australia and New Zealand.[5][6] He subsequently became assistant treasurer of capital markets, investments, and foreign exchange operations.[5][7]
He became treasurer of IBM in August 2007,[5] and was responsible for the company's balance sheet, cash flow, capital structure, interest-rate and currency-risk management, and treasury operations.[3] In April 2011 he became general manager of IBM Global Financing,[5] overseeing an asset base of more than $37 billion, covering 125,000 customers in 50 countries.[8]
Schroeter was chief financial officer of IBM from January 2014[4] to January 2018,[9] succeeding the retiring Mark Loughridge.[10] In January 2018, he became senior vice president of global markets;[9] the position entailed responsibility for IBM's global sales, client relationships and satisfaction, and worldwide geographic operations.[11][12] He retired from IBM in June 2020 after Arvind Krishna became CEO.[13]
In January 2021, IBM announced that Schroeter had been appointed CEO of its then-unnamed tech spin-off company, initially known temporarily as 'NewCo',[13] which will manage and modernize IT infrastructure for customers worldwide in every industry.[12] The spin-off is expected to occur by the end of 2021, and the entity will be an independent, publicly traded company.[14][15] IBM CEO Krishna had announced the spin-off, which will allow IBM to focus on hybrid cloud and artificial intelligence,[16] in October 2020.[14][17] The new independent company headed by Schroeter will focus on information technology infrastructure modernization and management.[16] At the time of the October 2020 announcement, the business unit had roughly $19 billion in annual revenues, 90,000 employees, and 4,600 clients in 115 countries.[14][15] The name of the new spin-off company was announced as Kyndryl in April 2021.[18]
References[edit]
- ↑ Savitz, Eric J. (January 7, 2021). "IBM Names Former Executive Martin Schroeter to Run Services Spinoff". Barron's. Retrieved April 8, 2021.
- ↑ "Martin J. Schroeter". Fox School of Business and Management. Retrieved April 8, 2021.
- ↑ 3.0 3.1 "W.L. Mellon Speaker: Martin Schroeter". Carnegie Mellon University. Retrieved April 8, 2021.
- ↑ 4.0 4.1 Kell, John (November 7, 2013). "IBM Finance Chief Loughridge to Retire". Wall Street Journal. Retrieved April 8, 2021.
- ↑ 5.0 5.1 5.2 5.3 5.4 "IBM Global Financing Names Schroeter General Manager". Monitor Daily. April 28, 2011. Retrieved April 8, 2021.
- ↑ "Alumni Highlights". Tepper Magazine. Carnegie Mellon University. Fall–Winter 2018. Retrieved April 9, 2021.CS1 maint: Date format (link)
- ↑ "IBM Investor Briefing" (PDF). IBM. May 2014. Retrieved April 9, 2021.
- ↑ Maverick, J.B. (July 19, 2017). "Who Is Driving IBM's Management Team?". Investopedia. Retrieved April 9, 2021.
- ↑ 9.0 9.1 Shivdas, Sanjana; Rai, Sonam (January 11, 2018). "IBM names James Kavanaugh as CFO, replacing Schroeter". Reuters. Retrieved April 8, 2021.
- ↑ Barinka, Alex (November 8, 2013). "IBM's CFO Who Helped Profit-Goal Push to Retire This Year". Bloomberg News. Retrieved April 8, 2021.
- ↑ Nigam, Aanchal (January 7, 2021). "IBM Appoints Martin Schroeter As CEO Of Independent Firm NewCo". Republic. Retrieved April 8, 2021.
- ↑ 12.0 12.1 "IBM ropes in Martin Schroeter to head its new independent company". VARIndia. January 8, 2021. Retrieved April 8, 2021.
- ↑ 13.0 13.1 Judge, Peter (January 8, 2021). "IBM ex-CFO Martin Schroeter will run legacy spin-off NewCo". Data Centre Dynamics. Retrieved April 8, 2021.
- ↑ 14.0 14.1 14.2 Deutscher, Maria (January 7, 2021). "IBM names Martin Schroeter as CEO of $19B NewCo services spinoff". SiliconAngle. Retrieved April 8, 2021.
- ↑ 15.0 15.1 "IBM names former financial chief Martin Schroeter as head of new IT infrastructure services company". ET CIO. Reuters. January 8, 2021. Retrieved April 8, 2021.
- ↑ 16.0 16.1 Edwards, Jane (January 8, 2021). "Martin Schroeter to Become CEO of IBM's 'NewCo' Spinout". GovConWire. Retrieved April 8, 2021.
- ↑ Osborne, Charlie (January 7, 2021). "IBM names Martin Schroeter as CEO of NewCo spinout". ZDNet. Retrieved April 8, 2021.
- ↑ Savitz, Eric J. (April 12, 2021). "IBM's Services Spinoff Gets a Name. What It Means". Barron's. Retrieved April 12, 2021.
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