IBM moves CFO Joyce to services division

IBM Corp. shuffled its executive suite Monday, moving Chief Financial Officer (CFO) John Joyce to the head of its services group and naming global financial manager Mark Loughridge as his successor.

Joyce replaces Doug Elix, a 30-year veteran of IBM who has run IBM Global Services since October 1999.

Elix will now lead IBM’s sales and distribution group, replacing Mike Lawrie, who has been named CEO at Siebel Systems. 

Joyce, Elix and Loughridge will all report to IBM Chief Executive Officer Sam Palmisano. Loughridge’s successor in global financing will be named shortly, IBM said.

Joyce became IBM’s CFO in November 1999, after years of work in the company’s finance department and a stint as president of IBM Asia Pacific. The IBM Global Services organization he’ll lead is IBM’s largest division, with revenue last year of  $42.6 billion.

In his memo to staff, Palmisano cast the management moves as business as usual.

“The intent of these leadership changes is straightforward — to step up the pace of our marketplace execution and accelerate our strategic growth plans,” he wrote.