IBM Reorganizes Services Business

IBM Corp. has reorganized its massive global services unit, a business with about $50 billion a year in sales, the company said in a memo to employees.

John Joyce, who most recently headed the division, which accounted for more than half of IBM’s revenue, and was a former chief financial officer of the company, has left to join investment firm Silver Lake Partners, both companies confirmed.

Armonk, N.Y.-based IBM said it named a three-executive team made up of Ginni Rometty, Mike Daniels and Bob Moffat to run the unit.