IBM stock slides on report president Jim Whitehurst is leaving company

IBM (NYSE:IBM) shares slide 2.6% after CNBC reports that president Jim Whitehurst is leaving the company.
IBM has since confirmed the news in a statement and says Whitehurst will remain a senior adviser for the company.
Whitehurst was named president last year, moving from his CEO role at Red Hat, which IBM acquired for $34B in 2019.
Whitehurst is currently responsible for IBM's Cloud and Cognitive Software organizations and corporate strategy.
Recent news: Yesterday, IBM's planned managed infrastructure services spinoff Kyndryl revealed its corporate structure.