https://www.prnewswire.com/news-releases/ibm-appoints-martin-schroeter-as-ceo-of-newco-independent-managed-infrastructure-services-business-to-spin-out-from-ibm-301202500.html
8 replies (most recent on top)
it is no coincidence that stocks go down after hearing this thing..pay attention
can he take Tony best with him as well please???
https://www.wraltechwire.com/2021/01/07/ibm-names-a-former-exec-as-ceo-of-looming-spinoff-newco/
The bone they threw to Schroeter so he would get out of the way of the selection of Arvind. Now we know.
Just what we need , another IBM'er who knows nothing and helped IBM spin into a death spiral . I will give them a year , plenty of other company's who can out run this new company .
What IP does GTS hold?
VCC - agree with you to some extent, but believe IBM wants to sell NewCo. IBM has never liked low margin or commodity businesses and have sold them I.e PC Company, chip business. Historically, IBM hung on to these commodity business too long (milking the cash from them) and it cost them in the end. Hoping for the health of IBM they move fast and aggressively to get rid of NewCo and pay down the debt.
Does this surprise anyone? Martin understands finance and services about as well as anyone within IBM due to being CFO and A GTS executive. He has been rounding out his resume via “global market”’ as of late. I think you need to pay far more attention to what AK and Martin both say to the street as far as moving forward. Newco has been given a free hand to develop “other” relationships besides IBM. They will definitely pursue that, but their primary responsibility to IBM will be to license the IP that they are inheriting. Go back and look at Martins resume as CFO under IBM. He made his Mark licensing IBM’s IP. He has now leveraged that into being CEO of Newco. You dance with the girl that brung ya. IBM will sell Newco if the price is right, BUT the licensing of IP is the secret sauce.