IBM puts executive on leave after charges

Oct 19, 2009

(AP) -- IBM Corp. has placed a top executive on leave after he was charged in an insider trading scandal for allegedly leaking secrets about IBM's earnings and financial dealings with corporate partners.

The company says Robert Moffat, a senior vice president and cost-cutting maven who was considered a top candidate to succeed Sam Palmisano, no longer serves as an officer of the company. A woman who answered the phone at Moffat's home in Connecticut said he would not comment.

Rodney Adkins, who has been senior vice president in charge of development and manufacturing, was tapped to assume Moffat's position on an acting basis. That gives him oversight over IBM's mainframes and computer servers.

Adkins is the highest-ranking black executive has ever had.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Amazon launches 3D printing store

add to favorites email to friend print save as pdf

Related Stories

Lenovo's bid to challenge Dell

Dec 21, 2005

The Chinese computer group that bought out the personal computer unit of IBM earlier this year said late Tuesday its chief executive officer would step down after only eight months on the job. Stephen Ward will be succeeded ...

Justice Dept probing IBM's computer market conduct

Oct 08, 2009

(AP) -- The Justice Department is looking into allegations that IBM Corp. has abused its dominant position in the market for mainframe computers, the data-crunching heavy lifters of the computing world that ...

IBM to Introduce a New Class of Open Virtualization

Jul 27, 2005

As part of its new systems strategy, IBM today introduced a standards-based virtualization platform that will allow customers to pool, manage and optimize their IT resources across a variety of servers, networking and storage ...

Recommended for you

Amazon launches 3D printing store

14 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

19 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

22 hours ago

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 0