Martin Schroeter
Martin Schroeter | |
|---|---|
| Born | 1964 (age 59–60) |
| Citizenship | United States, Australia |
| Alma mater | Temple University (BA) Carnegie Mellon University (MBA)[1] |
| Occupation | Business executive |
| Years active | 1992-2020 (IBM) 2021-present (Kyndryl) |
| Employer(s) | Kyndryl (CEO and Chairman)[2] |
| Board member of | Kyndryl |
Martin Schroeter (born 1964) is an American-Australian businessperson.[3] He has been the founding chairman and CEO of Kyndryl, an IBM spinoff, since 2021.[4][5][2] He previously held roles at IBM, including CFO from 2014[6] to 2017,[7] and senior vice president of global markets until 2020.[8] Schroeter is a member of the Council of Foreign Relations,[9] the Business Roundtable,[1] The Business Council, and the U.S.-India CEO Forum.
Early life
[edit]Schroeter was born in 1964.[3] He received his undergraduate degree in economics and finance from Temple University in Philadelphia, and his Master of Business Administration degree from Carnegie Mellon University in Pittsburgh.[1]
Career
[edit]IBM
[edit]Early in his career, Schroeter worked as a corporate banking officer[1] before joining IBM in 1992.[5] While at IBM he held various roles in Japan, the United States, and Australia[10] and was IBM treasurer from 2007 to 2011. Schroeter became general manager of IBM’s global financing in 2011.[3] On January 1, 2014, he succeeded Mark Loughridge as chief financial officer of IBM.[3] He was CFO of IBM from 2014 to 2017.[6][7] As IBM CFO, he spoke at the 2014 RBC Capital Markets' Technology, Internet, Media and Telecommunications Conference,[11] and in 2016, he oversaw a decision to overhaul IBM's financial reporting to focus on areas such as cloud computing and data analytics.[12] Schroeter talked about IBM's financials on Jim Cramer's Mad Money in October 2017.[13]
On January 11, 2018,[14] Schroeter was named senior vice president of global markets of IBM,[5][8] reporting to CEO Ginni Rometty.[14] Schroeter retired from IBM in June 2020.[2][7]
Kyndryl chairman and CEO
[edit]On January 15, 2021, Schroeter became the head of a new IBM spinoff focused on IT infrastructure services.[2][4][6] The spinoff was initially named NewCo,[2] with the public company to manage data centers and cloud infrastructure for clients.[7] Schroeter was given immediate oversight of "4,600 existing clients in 115 countries, $60bn in service backlog and, according to IBM, some 90,000 staff."[2] The company was named Kyndryl in July 2021.[15]
In November 2021, Schroeter became Kyndryl's chairman and CEO.[1] On November 4, 2021 the spinoff was completed, with Kyndryl Holdings Inc. trading on the NYSE.[5] In August 2022, Schroeter stated Kyndryl was expanding in "non-IBM technology, including cloud, AI and security."[16] Initially, Schroeter stated many of the legacy contracts Kyndryl inherited from IBM were not profitable, with Kyndryl's profits dropping in 2022 before rising in 2023 as the company expanded its service areas.[17] Schroeter remains chairman and CEO of Kyndryl.[1]
Boards and councils
[edit]Schroeter is a member of the Council of Foreign Relations,[9] Business Roundtable,[1] as well as The Business Council[18] and the U.S.-India CEO Forum.[19] He is also chairman of Kyndryl.[20] In October 2023, he and his wife Susan were invited to US President Joe Biden's state dinner honoring Australian Prime Minister Anthony Albanese.[21]
References
[edit]- ^ a b c d e f g "Martin Schroeter", Business Roundtable (2024)
- ^ a b c d e f "Old hand at NewCo: IBM re-hires former CFO to run soon-to-be-spun-out Global Tech Services division", The Register, Paul Kunert (January 7, 2021)
- ^ a b c d "IBM CFO Mark Loughridge to retire this year", LiveMint, Alex Barinka (November 8, 2013)
- ^ a b "IBM Names Former Executive Martin Schroeter to Run Services Spinoff", Barron's, Eric J. Savitz (January 7, 2021)
- ^ a b c d "IBM Spinoff Kyndryl Starts Quest for Growth", The Wall Street Journal, John McCormick (November 4, 2021)
- ^ a b c "IBM names head of new IT infrastructure services company", Reuters (January 7, 2021)
- ^ a b c d "IBM names Martin Schroeter as CEO of NewCo spinout", Zdnet, Charlie Osborne (January 7, 2021)
- ^ a b "Meet the 20 IBM power players leading its cloud turnaround after its biggest leadership shakeup under new CEO Arvind Krishna", Business Insider, Belle Lin (August 13, 2021)
- ^ a b "Roster". Council on Foreign Relations. 2024.
- ^ Mike Robuck (January 7, 2021). "IBM taps Martin Schroeter as CEO". Fierce Telecom.
- ^ Lauren Ohnesorge (November 12, 2014). "IBM CFO: 'We're not looking to be something else through an acquisition'". Triangle Business Journal.
- ^ "IBM Goes On The Offensive While Revenue Declines", Fortune Magazine, Jonathan Vanian (April 18, 2016)
- ^ Lizzy Gurdus (October 18, 2017). "IBM will get a strong tailwind from the weak dollar, CFO Martin Schroeter says". CNBC.
- ^ a b "IBM names James Kavanaugh as CFO, replacing Schroeter", Reuters, Sanjana Shivdas (January 11, 2018)
- ^ "Fast and focused:' CEO spells out his vision for IBM spinoff Kyndryl". WRAL News. July 2, 2021.
- ^ "Kyndryl CEO Martin Schroeter: We Are Exiting The Influence Of IBM", CRN, Joseph F. Kovar (August 16, 2022)
- ^ Joseph F. Kovar (August 10, 2024). "Kyndryl CEO Martin Schroeter". CRN.
- ^ "Martin Schroeter". The Business Council. 2024.
- ^ "US, Indian CEOs provide updates on advancing bilateral commercial ties", Business Standard (December 5, 2023)
- ^ "Kyndryl India is a big part of our future: chairman Martin Schroeter". The Economic Times. May 22, 2022.
- ^ "The Full Guest List for Biden's State Dinner With Australia". The New York Times. October 25, 2023.