IBM may have just lost its next CEO to the Galleon insider trading scandal.
AP: IBM Corp. has placed a top executive on leave after he was charged in an insider trading scandal for allegedly leaking secrets about IBM’s earnings and financial dealings with corporate partners.
The company says Robert Moffat, a senior vice president and cost-cutting maven who was considered a top candidate to succeed CEO Sam Palmisano, no longer serves as an officer of the company. A woman who answered the phone at Moffat’s home in Connecticut said he would not comment.
Moffat, arrested Friday, allegedly gave insider information about IBM and Sun Microsystems to Danielle Chiesi of New Castle Partners, who was also arrested in connection with the Galleon scheme.