IBM spin-off Kyndryl names first board of directors

CEO Martin Schroeter to lead the board as chairman while former Royal Bank of Scotland CEO Stephen Hester is named lead independent director

Kyndryl, the new independent company which will be created from the separation of IBM's managed infrastructure services business, has announced its first board of directors.

Martin Schroeter, who was named as the company's new CEO in January, will lead the board as chairman and will be supported by Stephen Hester as the lead independent director of the board, having previously served as CEO for RSA Insurance Group and the Royal Bank of Scotland.

"I'm excited to lead Kyndryl as it prepares to change the technology services industry," Schroeter said.

"Our first board brings great leadership skills, an international perspective and extensive transformation experience, and they will be a great asset to our leaders and our customers as we begin our journey as an independent company."

Also named to the newly formed board is previous Johnson & Johnson CFO Dominic Caruso, ex-CEO of Raytheon International and Cisco board member John Harris, president of the Rensselaer Polytechnic Institute Shirley Jackson and former chief human resources officer of Siemens AG Janina Kugel.

They are joined by the CEO of Sodexo Denis Machuel, ex-CTO and CIO of Merrill Lynch Rahul Merchant, former executive vice-president and COO for Northern Trust Corporation Jana Schreuder and Dow's president and CFO Howard Ungerleider.

"A 90,000-person ‘start-up' doesn't come along very often, and neither does the opportunity to establish what will be the world's largest customer-centric technology services company," Hester said.

"I'm proud to join this esteemed and diverse group of colleagues with expertise spanning financial services, government affairs, industry, and academia to help Kyndryl reach its potential and advance the vital systems that power progress for its customers."