IBM CEO Ginni Rometty is stepping down and Arvind Krishna is taking over on April 6. CNBC's "Closing Bell" team reports.

IBM shares jumped as much as 5% on Thursday after the company said Arvind Krishna is becoming its 10th CEO, replacing Virginia ?Ginni? Rometty. The change is effective on April 6, according to a statement.

Jim Whitehurst, Red Hat's former CEO, is becoming IBM's president, the company said. IBM completed its $34 billion Red Hat acquisition in July.

Rometty, 62, became IBM president and CEO on January 1, 2012, replacing Sam Palmisano. Earlier she had responsibilities in sales, marketing and strategy. Rometty studied computer science and electrical engineering at Northwestern University.

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