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Why IBM Stock Popped 5% Today

TheMotleyFool

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Yesterday after close of trading, IBM (NYSE: IBM) announced that its president and current CEO, Virginia Rometty, will leave her post on April 6 to be replaced by Arvind Krishna. Today, before trading closed for the day, IBM stock is up 4.7% in response (as of 3:30 p.m. EST).

IBM stock has not fared particularly well under Virginia Rometty's leadership. Image source: Getty Images.

Krishna is currently IBM's senior vice president for cloud and cognitive software. He will be joined at the top of the company by James Whitehurst -- currently the CEO of Red Hat, the open-source software provider that IBM bought last summer -- who will become IBM's president.

Source Fool.com

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