Name: Kyndryl CEO on His Plans to Grow Revenue After IBM Spinoff
Uploaded: 2025-05-06T14:23:00Z
Duration: 4 min 13 s
Description: Martin Schroeter, CEO of Kyndryl, talked about the journey to fix issues inherited from the spinoff—and his strategy for returning to growth.

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Martin Schroeter, CEO of Kyndryl, talked about the journey to fix issues inherited from the spinoff—and his strategy for returning to growth.

https://m.wsj.net/video/20250508/55e111a2-b4ad-4cc4-a75e-06edbe4dc9d5/1/hls/manifest-hd-wifi.m3u8

Kyndryl CEO on His Plans to Grow Revenue After IBM Spinoff

I wanna go back to your strategy, your growth strategy going forward, Martin. And you talk about how important revenue growth is. Obviously it'd be the driver here, but it has been sort of stuck in that range. So how are you going to grow revenue for this company?

Yeah, it's a great question and it's something that we've been talking about now, again for a few years. So when we first started talking about Kyndryl and the return to growth, we said, you know, it's gonna take us a few years to fix, if you will, fix elements of this business that we inherited. And while we do that, we're gonna be focused on profitability more so than we are on revenue. And what we've been able to accomplish over the last few years is as we engineer a decline in revenue, and I'll come back to why engineer a decline. We've engineered last year a billion dollar decline in revenue this year, it'll be not quite that big, but again, a multi $100,000,000 decline. And at the same time, we've added last year, $360,000,000 of profit, and this year similar, we'll add a similar amount of profit again. So, the reason to do that and the reason to talk about the timeframes that we have is because the nature of what IBM spun out had some really profit challenged elements to it. So, IBM in the spin created the commercial construct that exists between these two firms. And in many instances, what that meant for us was that we were well underwater with many of the relationships that IBM created with customers. So we needed, we said we would need a few years to get those relationships reimagined and get those relationships on a more sound economic footing. So as an example, as I said this business was born out of and around IBM's technology. So they're in a stylized way just envision that a customer's paying us $100 to run their systems. And obviously we need people to do that, but they're paying us $100 dollars to run their systems. And because of the way IBM's set up the spin, we have to pay $150 to IBM just for the hardware and the software. So what we've done over the last few years through what we call our focus accounts is we've fixed, if you will, we fixed the bulk of those. And at the same time, so that was the fix, that was the engineer decline in revenue. At the same time we said two things will be vectors for growth for us. And these are the two things that as we fix the business, we will demonstrate that they are already growing and they will put the firm back into a growth position. Those two things are one, our Kyndryl Consult Business. This business, Kyndryl in total had less than 10% of its revenue coming from its advisory work, even though the customer base was begging this business to help them with more of their problems because we are the engineers who know the most about their systems. So we've been able to double that Kyndryl Consult Business as a mix of our own, with very solid signings growth followed by revenue growth quarter after quarter after quarter. So that vector of growth has done quite well, and it will be part of how we get back to growth. And then secondly, as I mentioned, because we were so narrowly focused in IBM, we did not have at the spin, relationships with other partners. We took our freedom of action very quickly. We created partnerships with Microsoft and Google and AWS, et cetera. And we said that in the first year alone, on the now you know, a few years back. In the first year alone, we will sign a billion dollars worth of business signings, billion dollars worth of business. In the first year we wound up signing like 1,000,000,001. And then this year when we started the fiscal year, we said, we will now have created, this year we will have created a billion dollar business just with our hyperscaler partners. And so those two vectors of growth growing the Kyndryl Consult Business, which we've been doing quarter after quarter and growing our work related with the hyperscalers, is driving a billion dollars of revenue. So those two growth vectors continue to push us back to growth. And we're kind of through now what I'll call the fix on the things that we inherited that had a challenge.

Kyndryl CEO on His Plans to Grow Revenue After IBM Spinoff

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