RESEARCH TRIANGLE PARK – Paul Cormier is staying and will keep running Red Hat, IBM Chairman and CEO Arvind Krishna told CNBC in an interview Monday evening.
Cormier took over as the CEO at Raleigh-based Red Hat in April 2020 after Jim Whitehurst, who had held the job for 12 years, was promoted to President at IBM.
Whitehurst left that job earlier this month but remains an advisor.
‘We remain on track:’ IBM’s CEO delivers a pep talk to Street, praises Whitehurst, Red Hat
Krishna told CNBC that Whitehurst had been very effective in his tenure as No. 2 at Big Blue. Whitehurst said he left IBM to become CEO at another company.
IBM acquired Red Hat for $34 billion in a deal announced in October 2018.
IBM shares jump 4% after beating Street expectations; Red Hat revenue surges
The news came after IBM disclosed its strongest financial quarter in three years with Red Hat revenues helping a great deal, rising 20% year-over-year.
Watch the video here:
https://www.cnbc.com/video/2021/07/02/ibm-ceo-to-cnbc-paul-cormier-is-staying-running-red-hat.html
