897: Satisfying a Growth Appetite | Bobby Leibrock, CFO, Red Hat Software
Last October, when it was announced that Bobby Leibrock would become the next CFO of IBM subsidiary Red Hat, finance team members no doubt understood that the open-source developer was coronating not just any IBM veteran but a strategic finance executive who for years had been entrenched along the front lines of IBM’s software acquisition activities.
Leibrock’s M&A resume began around 2006, when IBM acquired content management software developer FileNet for $1.6 billion.
“They asked me to be what was known as a ‘product pricer,’ a role that involved figuring out how to merge FileNet’s portfolio into ours from a pricing standpoint,” explains Leibrock, who notes that along the way he would frequently find himself seated across the table from the acquired company’s management while he stared down at a list of pricing-related questions.
Fast-forward to IBM’s acquisition of security intelligence software developer Q1 Labs in 2011 and Leibrock’s appointment as CFO of the new security software unit that IBM established to house its newly acquired security offerings.
“IBM would buy some 12 to 15 software companies a year, and while the security software sector wasn’t the biggest involved, it was strategic in that it connected IBM’s identity security with its data security portfolio,” recalls Leibrock, who adds that his 19 years at IBM remained largely inside the software lane and seldom if ever crossed over into the tech company’s hardware or professional services businesses.
Thus Leibrock’s call to leadership wasn’t immediate, and his career appetite seems to have been driven perhaps not so much by titles as by challenges.
Still, as he advanced upward within IBM, the CFO path began to come more into focus.
Reports Leibrock: “I wasn’t always planning to be a CFO, but from having had the opportunity to sit across from CFOs, I sort of learned what I wanted to be as a leader through observing both the good and the bad.” –Jack Sweeney
