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IBM replaces Moffat, executive charged in insider-trading case

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IBM has replaced Robert Moffat, the executive charged in the Galleon Group insider-trading case, Bloomberg News reported.

Rod Adkins will take Moffat's spot as head of the mainframe, server and storage-device businesses, IBM spokesman Edward Barbini told Bloomberg. He declined to comment further on Moffat's departure.

Moffat's 31-year career with IBM included running the New York company's personal-computer division in Research Triangle Park earlier this decide. He also helped sell that unit to Lenovo.

Moffat, 53, was put on temporary leave on Oct. 19. He previously was considered a potential successor to CEO Sam Palmisano. Moffat's lawyer has said that he wasn't aware of the insider trading mentioned in the criminal complaint, nor did he financially benefit from the alleged activity.

Adkins, 51, has been at IBM since 1981.

Read the full Bloomberg story here.

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About the blogger

Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or e-mail him.