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ARMONK, N.Y. (AP) IBM Chief Financial Officer Mark Loughridge will retire at the end of the year and will be succeeded by finance executive Martin Schroeter, the company said in a regulatory filing Thursday.

Loughridge, who turns 60 next month, joined the computing company in 1977 as a development engineer and was named chief financial officer in 2004, clocking the longest tenure of any CFO in the company's 102-year history.

Schroeter, 49, is general manager of IBM Global Financing and served as the company's treasurer from 2007 to 2011. He joined International Business Machines Corp. in 1992.