IBM's Jim Whitehurst to step down as president

International Business Machines Corp said on Friday President Jim Whitehurst, who played a major role in Big Blue`s $34 billion acquisition of Red Hat two years ago, will step down from his position. The company did not specify when Whitehurst, who was named President in January 2020, would leave IBM or who would replace him. Shares of the US technology firm were down nearly 3% in early trading.