The IBM spin-off is hoping for a new dynamic.
Dusseldorf IBM regularly reinvents itself – but what is coming up on Thursday is probably the most radical change in the company’s 110-year history: CEO Arvind Krishna splits the group into two independent units and brings the IT infrastructure services business under the cryptic name Kyndryl on the stock exchange.
The new company with 90,000 employees, a good $ 19 billion in annual sales and customers all over the world is a giant, albeit a flagging one: the business has continuously shrunk and been in deficit over the past few years. Management hopes that a new dynamic will now emerge.
“I promise myself a clear impetus from independence,” said Markus Koerner, President of Kyndryl Germany, the Handelsblatt. At IBM as an integrated technology company, there were “a number of conflicting goals”, whether in investments or in cooperation with other technology providers – that is now over.
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