In an important moment for IBM – and not only because of COVID-19 – Arvind Krishna has taken over the helm of CEO for the technology company. Krishna will depend on tools such as Slack, a webcast and emails to deliver the message that the firm has endured difficult times in the past, CNBC reported.
Krishna noted in a message to staffers on Monday (April 6) that he will home in on hybrid cloud and artificial intelligence (AI) as important solutions for the times ahead. The executive also noted that the firm’s track record of offering fundamental technology has made it essential in challenging times like these.
Krishna said, per the report, “If there’s one thing this public health crisis has brought to light, it is the ever-essential role of IBM in the world. We are the backbone of some of the most critical systems. Today, more than ever, trust is our license to operate.”
IBM doesn’t hold the same position in the technology ecosystem as it did a generation ago. Executives have grappled with expanding sales even as they have focused on getting rid of businesses that aren’t as profitable.
The company’s market capitalization dropped to under $100 billion as of the close of day Friday (April 3).
In separate news, it was reported in January that IBM CEO Ginni Rometty was leaving her position following an eight-year tenure, during which the tech company struggled to keep up with its rivals’ expansion. Rometty was to step down on April 6, but will remain on board at the company through the end of 2020.
Aside from Krishna taking the helm as CEO, it was previously reported that Jim Whitehurst will be the new company president. He was previously the chief executive of Red Hat, the open-source software firm that IBM purchased for $33 billion in 2019.