RESEARCH TRIANGLE PARK – A “key advisor” in IBM’s $34 billion acquisition of Raleigh-based Red Hat is joining Big Blue to head up its continuing strategy, mergers and acquisitions, IBM Chair and CEO Arvind Krishna told employees in a memo on Thursday.

The move to bring on board Alex Stern from Wall Street firm Lazard is one of several management changes and one big retirement Krishna disclosed. Stern earned his undergraduate degree at Duke University.

The retirement news is: Tom Rosamilia is stepping down as senior vice president if IBM Software.

The hiring of Stern is the latest move Krishna has made in his aggressive acquisition strategy since he took over as Big Blue’s top executive following the 2019 deal for Red Hat. With more than 20 deals focusing largely on consulting, Krishna is repositioning IBM to put more emphasis in that area – especially after directing the spinoff of tech services into new company Kindryl in 2021.

In the memo, Krishna wrote he was pleased to “welcome Alex Stern back to IBM where he began his professional career. Alex will be SVP, strategy and mergers & acquisitions. He will also lead the investor relations organization.”

The changes are just the latest in many Krishna continues to make at the company.

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Lazard was president at Lazard. He joins IBM as of Jan. 23 and will report to Krishna as well as CFO Jim Kavanaugh.

“He held several senior leadership roles during his 28 years with Lazard, including chief executive officer of their financial advisory business, chief operating officer, and global head of strategy,” Krishna explained. “While at Lazard he also worked closely with IBM and was a key advisor on a range of transactions including the acquisition of Red Hat and the spin of Kyndryl.”

Rosamilia, meanwhile, will retire June 30, Krishna said.

“These senior leadership changes are crucial as we strive to build a better, simpler, more focused, and more productive company,” Krishna said.

To read about all the other changes, read Krishna’s memo at: https://newsroom.ibm.com/Important-Leadership-Updates

IBM operates one of its largest corporate campuses in RTP, employs several thousand people across North Carolina, and is the owner of Raleigh-based Red Hat.