IBM's Moffat put on leave after insider trading scandal

Summary:IBM has put Bob Moffat, senior vice president of its systems and technology group, on a "temporary leave of absence" following an insider trading sting that named him and other technology executives.Big Blue told employees that Moffat is no longer serving as an officer of IBM.

IBM has put Bob Moffat, senior vice president of its systems and technology group, on a "temporary leave of absence" following an insider trading sting that named him and other technology executives.

Big Blue told employees that Moffat is no longer serving as an officer of IBM. On Friday, Moffat was named in an insider trading sting that netted Raj Rajaratnam, managing member of Galleon Management, LLC and a portfolio manager for Galleon Technology Offshore, Ltd (see complaint).

Rod Adkins, senior vice president in charge of development and manufacturing, IBM Systems and Technology Group, is now acting head of the unit. Adkins will continue his current role also.

Adkins will report to IBM CEO Sam Palmisano.

Topics: CXO, IBM, IT Employment

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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