International Business Machines Corp. said Chief Executive Ginni Rometty is stepping down after a challenging eight-year run at the top of the iconic technology company, as she struggled to deliver growth at a time other tech giants’ fortunes blossomed.

Ms. Rometty, 62 years old, will formally step down on April 6. She will be succeeded by Arvind Krishna, who heads the company’s cloud and cognitive-software division, the company said on Thursday. Jim Whitehurst—the chief executive of Red Hat, the open-source software giant…

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