(Last Updated On: January 8, 2021)

IBM has called upon its former financial chief Martin Schroeter to be the head of its new IT infrastructure services unit once it is public, as the company moves its aim towards its high-margin cloud business.

By the end of this year, along with a new name, IBM will be listing its unit as its own company, which offers technical support for 4,600 clients in 115 countries.

The company has hopes for the hybrid cloud, where it can find a $1 trillion market opportunity as a lot more companies start to use a mix of their own data centres and have rented computing resources in order to run and process data.

Schroter had worked at IBM between 2014 and 2017 as the chief financial officer and has also worked as the senior vice president of the global market, prior to leaving this company last year in June. Now, he will be taking on the new position on January 15th.

The new company has 90,000 employees and will aim to manage and update IT infrastructure throughout industries.

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