IBM Names CFO to Head New Sales Unit

IBM Corp. said Chief Financial Officer Doug Maine will step down to head a new unit that sells computers and software via the Internet and telephone. Maine, 51, will be replaced as CFO of the world’s largest computer maker by John Joyce, 45, who oversees IBM’s business in the Asia-Pacific region. Maine will report to William Etherington, senior vice president and group executive. IBM is trying to cut costs by automating more of its sales and customer service. Maine, who joined IBM in May 1998, took the CFO job with the understanding he would move to a sales management position in the company, Chief Executive Louis Gerstner said in a memo to employees. Maine came to IBM after serving as CFO at MCI Communications Corp., which was acquired by WorldCom Inc. in September 1998. As part of the executive changes, Kakutaro Kitashiro, an executive in IBM’s Japan unit, will take over Joyce’s old position. The changes take effect Nov. 15. Shares in IBM fell $1.50 to close at $96.75 on the New York Stock Exchange.