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IBM Replaces Exec Caught up in Insider Trading Case

Posted by Susan Hall Oct 30, 2009 3:31:25 PM

IBM has replaced Robert Moffat Jr., a senior vice president, who was arrested in the Galleon Group hedge fund scheme, reports Bloomberg. Moffat was placed on leave after his arrest. Moffat at one time was considered a potential CEO candidate for Big Blue.

 

But IBM announced Friday that Rod Adkins, a 28-year-veteran at IBM, will take over Moffat's post as head of the mainframe, server and storage-device businesses, reports The Wall Street Journal.

 

Most of the reports on the executive shuffle aren't clear about whether Moffat was simply demoted or had left the company. According to The New York Times, however, Moffat agreed to leave the company after an internal investigation.

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