International Business Machines Corp. said late Thursday that it has installed James Kavanaugh as chief financial officer, and former CFO Martin Schroeter will take a new role as senior vice president of global markets. Kavanaugh was senior vice president, finance and operations, the company said. IBM has not yet made any decisions about the executives’ compensation. Both executives will participate in the company’s fourth-quarter earnings call on Jan. 18. IBM stock is down a fraction to $164.04 after hours. Over the past 12 months IBM stock has lost 2%, as the S&P 500 index rose 21%. The Dow Jones Industrial Average , of which IBM is a component, has gained 27%.
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