[ad_1]
Gary Cohn, former chairman of Goldman Sachs and economic adviser to President Donald Trump, joins IBM as vice president.
Cohn announced the move in a tweet Tuesday morning in which he said he was “honored” to join the company’s board of directors.
IBM shares rose about 1.2% after the news broke.
Jim Cramer of CNBC said the announcement was “an exciting move for IBM. Gary can be a change agent.”
In this new role, Cohn will act as an advisor to IBM CEO Arvind Krishna, who took over the company in April with a promise to expand its reach in the field of artificial intelligence and cloud computing.
This could make Cohn an unusual choice as his background is primarily in finance and economics. He served nearly 11 years at Goldman as president and chief operating officer before accepting Trump’s appointment as director of the National Economic Council.
In the White House, he helped guide the record-breaking tax reduction program in 2017, but later became at odds with the president. He stepped down as an advisor in April 2018 and was replaced by former CNBC host Larry Kudlow.
After returning to the private sector, Cohn quickly entered the venture capital space, partnering with Cliff Robbins to form Cohn Robbins Holding Corp. Despite accepting the position at IBM, Cohn said he would continue his involvement with Robbins.
This is the latest news. Please come back for updates.
[ad_2]
Source link