SAN FRANCISCO (Thomson Financial) - International Business Machines Corp.
Monday announced a number of executive moves, including the retirement of two
company veterans, according to a media report.
In an internal message to employees, the company announced the retirement of
Nick Donofrio, vice president of innovation and technology, and of Bill Zeitler
of the systems and technology group, the Wall Street Journal reported on its Web
site.
The Journal report characterized the departures of Donofrio and Zeitler, as
well as other internal executive moves, as a "major turnover in its senior
ranks."
Zeitler, who was in charge of computer hardware and semiconductors, will be
replaced by Bob Moffat, senior vice president, supply chain, the report said.
Donofrio won't be replaced. The two executives who reported to him, John Kelly
and Linda Sanford, will now report directly to Chairman and Chief Executive Sam
Palmisan.
In addition, the company's controller, Tim Shaughnessy, will become senior
vice president, services delivery, a new position in the global technology
services group. Jim Kavanaugh, who heads finance in the sales and distribution
unit, will replace Shaughnessy as controller.
Shares of Armonk, N.Y.-based IBM were down $1.01 at $122.17.
Katherine Hunt
kh/vj
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