Robert Moffat (businessman)

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Robert "Bob" Moffat
Born1956
Alma materUnion College
OccupationBusiness executive
EmployerInternational Business Machines Corporation (IBM)
TitleSenior Vice President, Systems and Technology Group
Criminal charge(s)securities fraud, conspiracy (October 16, 2009)
Criminal penaltysix months jail
Criminal statusserved sentence
Spouse(s)Amor
Children4

Robert "Bob" Moffat (born 1956) was a senior executive at IBM, the senior vice president of its systems and technology group, and "widely considered" a candidate to be its next CEO.[1] He graduated from Union College in Schenectady, New York.

In October 2009, he and five others were arrested for securities fraud and conspiracy as the first arrests in the wide-ranging Galleon Group insider trading investigation. He pleaded guilty and served six months in prison.[2]

Career[edit]

IBM[edit]

Moffat joined IBM in 1978 and was eventually mentored by Sam Palmisano, who would ultimately become the chief executive of IBM. According to Bloomberg, "the close ties between the two men became something of a joke among Moffat's staff."[1] He rose to a senior position in the organization and was global head of supply chain, among other areas.[3] While serving as Senior vice president, Integrated Operations, Moffat was ranked among the 50 Most Powerful People by Network World in 2006.[4]

Galleon arrest[edit]

Moffat was arrested in 2009 on charges that he had shared confidential information with Danielle Chiesi, with whom he had begun an extramarital relationship in 2003.

According to Bloomberg, "Moffat said the stress of the case has exacerbated his wife’s multiple sclerosis. He said he has been ostracized by former friends and colleagues at IBM and lost $65 million in benefits he probably would have received had he stayed at the company."[3]

Personal[edit]

Moffat has at least four children and has lived in Minnesota, France, New York, Connecticut and North Carolina over a 30-year career with IBM.[3]

References[edit]

  1. ^ a b Burke, By James Bandler with Doris. "Inside IBM's sex and trading scandal - Jul. 6, 2010". money.cnn.com. Retrieved 2018-07-27.
  2. ^ Shifrel, Scott (13 September 2010). "Ex-IBM exec Robert Moffat sentenced to six months in prison for leaking insider info". Daily News. Archived from the original on 13 March 2011. Retrieved 27 July 2018.
  3. ^ a b c "IBM's Moffat Says Chiesi 'Played Him' for Inside Tips". Bloomberg.com. Retrieved 2018-07-27.
  4. ^ Schultz, Julie Bort and Beth. "The 50 most powerful people". Network World. Retrieved 2018-07-27.