The IBM board of directors elected Mark Fields to the board effective March 1, 2016. Mr. Fields, 55, is president and chief executive officer, Ford Motor Company. Mr. Fields joined Ford in 1989.

In 2014, he became president and chief executive officer and was elected to the company's board of directors, where he serves on the board's finance committee. Previously, he was chief operating officer, a position to which he was named to in 2012. Prior to these positions, he was executive vice president, Ford Motor Company, and president of Ford's Americas division.

The company said Alain J.P. Belda and William R. Brody are retire, will not stand for re-election at the company's April annual shareholders meeting.