IBM shuffles top executives

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IBM shuffles top executives

IBM has moved chief financial officer John Joyce to the head of its services group and named global financial manager Mark Loughridge as his successor.

Joyce replaces Doug Elix, a 30-year veteran of IBM who has run IBM Global Services since October 1999.

Elix will now lead IBM's sales and distribution group, replacing Mike Lawrie, who is leaving to join Siebel as its chief executive.

Joyce, Elix and Loughridge will all report to IBM chief executive officer Sam Palmisano. Loughridge's successor in global financing will be named shortly.

Joyce became IBM's CFO in November 1999, after years of work in the company's finance department and a stint as president of IBM Asia Pacific. The IBM Global Services organisation he will lead is IBM's largest division, with revenue last year of $42.6bn.

In his memo to staff, Palmisano cast the management moves as business as usual.

"The intent of these leadership changes is straightforward - to step up the pace of our marketplace execution and accelerate our strategic growth plans," he wrote.

Yankee Group analyst Andy Efstathiou said IBM's Global Services group has been transformed in the past decade from a small add-on to the hardware and software groups into a core unit that is the envy of other IT companies.

Efstathiou did not see any glaring weakness in the division that Joyce will need to remedy. Instead, the new executive's task will be to keep the services group growing. Joyce's background with IBM's Asia-Pacific business could be a great asset there: That region has been expanding rapidly and could be one of IBM's major growth engines, he added.

Stacy Cowley writes for IDG News Service


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