International Business Machines Corporation announced the appointment of Martin Schroeter as Chief Executive Officer of the independent company that will be created following the separation of the company's Managed Infrastructure Services business ("NewCo"), effective January 15. NewCo will focus on the management and modernization of IT infrastructure in every industry around the world. The previously announced separation is expected to occur by the end of 2021. Mr. Schroeter served as the company’s Senior Vice President, Global Markets, where he was responsible for the company’s global sales, client relationships and satisfaction, and worldwide geographic operations, before leaving the company in June 2020. Prior to that he was the company’s Chief Financial Officer and has held a number of other executive roles at the company.