IBM Shuffles Services Deck
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IBM has shuffled its management deck after global services leader John Joyce left the computing giant for high-tech venture capital firm Silver Lake Partners.
Mike Daniels, Ginni Rometty and Bob Moffat now head IBM Global Services as part of a move to better tailor the Armonk, N.Y., company's large services staff with customer needs, confirmed IBM spokesman Edward Barbini.
Daniels became senior vice president for IT services; Rometty is now a senior vice president for enterprise business services; and Moffat was tabbed senior vice president for integrated operations. Moffat will use his experience in supply chain management consulting to boost the company's services business.
The trio of executives will report to chairman and CEO Samuel Palmisano.
In other management news, Nick Donofrio was promoted to executive vice president, while Janet Perna is retiring from IBM after 31 years.
Ambuj Goyal, who helped broker IBM's move to buy e-forms software maker PureEdge today, will take her place as general manager of IBM's information management software division. No replacement has been named for Goyal, who led IBM's Lotus software division.
The moves come a day after IBM returned to form in revenues. While revenues declined 3.6 percent from the year-ago quarter to $22.27 billion, diluted earnings shot up 10.9 percent to $1.12 a share, beating analysts' estimates by nine cents.
Cross-country rival HP is realigning, as well, making managerial changes and cutting staff.
Joyce, most recently senior vice president and head of global services, is the most notable change among the executive jockeying.
Joyce had been with IBM since 1975. He served as the company's CFO from 1999 to 2004, orchestrating the purchase of the global business consulting and technology services practice of PricewaterhouseCoopers and the sale of IBM's personal computer business to Lenovo.
Joyce will join Silver Lake as managing director and will be based in Silver Lake's New York office, working with founders Jim Davidson, Glenn Hutchins, Dave Roux and the rest of the firm. He will serve on the investment committee and oversee new investments and deals.
"IBM is a great company, but the lure of new and different challenges and opportunities at Silver Lake is simply too great to pass up," Joyce said in a statement.
A renowned equities firm, Silver Lake recently announced the $11.3 billion acquisition of SunGard Data Systems in conjunction with several consortium partners. The firm also agreed to acquire Instinet's institutional brokerage business.