Leadership Turmoil

Executive turnover adds further risk. Kyndryl’s chief financial officer and general counsel have departed, and the company is under SEC review, delaying its 10‑Q filing and prompting a review of its adjusted free‑cash‑flow metric. CEO Martin J. Schroeter cautions that achieving FY 28 multi‑year targets will be challenging amid softness in bookings and elongated sales cycles, yet remains confident that a strong backlog, growing AI relevance, and an improved cash‑tax position will support long‑term prospects. The company’s strategic focus continues to be on expanding AI, data, and cybersecurity offerings, while aiming to reach $1.2 billion adjusted pre‑tax income and $1 billion free cash flow by fiscal 2028.