Posted by: Matt Stansberry
According to the Wall Street Journal, Robert Moffat, former senior vice president and general manager of IBM’s Systems and Technology Group has been replaced by Rod Adkins, who had previously been in charge of systems development.
Moffat was accused in October of insider trading, passing along confidential information that benefited hedge funds Galleon Group and New Castle Partners.
Moffat, once regarded as a possible future IBM chief executive, may have had plans to start selling off pieces of IBM’s server business according to IT Jungle’s Timothy Prickett Morgan. “This seemed like an exec whose job it was to shut down businesses or offshore them.”