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. He graduated from

Union College Union College is a private liberal arts college in Schenectady, New York. Founded in 1795, it was the first institution of higher learning chartered by the New York State Board of Regents, and second in the state of New York, after Columbia Co ...

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. In October 2009, he and five others were arrested for

securities fraud Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in los ...

and

conspiracy A conspiracy, also known as a plot, is a secret plan or agreement between persons (called conspirers or conspirators) for an unlawful or harmful purpose, such as murder or treason, especially with political motivation, while keeping their agree ...

as the first arrests in the wide-ranging

Galleon Group The Galleon Group was one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009. The firm was the center of a 2009 insider trading scandal which subsequently led to its fall. The firm wa ...

insider trading Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information ...

investigation. He pleaded guilty and served six months in prison.

Career

IBM

Moffat joined IBM in 1978 and was eventually mentored by

Sam Palmisano Samuel J. "Sam" Palmisano (born July 29, 1951) is a former president and the eighth chief executive officer of IBM until January 2012. He also served as Chairman of the company until October 1, 2012. Palmisano was appointed president and chief ...

, 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." He rose to a senior position in the organization and was global head of supply chain, among other areas. While serving as Senior vice president, Integrated Operations, Moffat was ranked among the 50 Most Powerful People by

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in 2006.

Galleon arrest

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."

Personal

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.

References

1956 births Living people 21st-century criminals IBM employees {{Business-bio-stub