IBM has revealed Virginia Rometty will take over as president and CEO of the tech giant on January 1.

Rometty, who is currently senior vice president and group executive for sales, marketing and strategy at IBM, is also known as Ginny and is the company's first-ever female chief executive. She will take over from current CEO Sam Palmisano, who became IBM chief executive officer in 2002 and chairman of the board in 2003. He will remain as chairman.

"Ginni Rometty has successfully led several of IBM's most important businesses over the past decade – from the formation of IBM Global Business Services to the build-out of our Growth Markets Unit," Palmisano said.

"She brings to the role of CEO a unique combination of vision, client focus, unrelenting drive, and passion for IBMers and the company's future. I know the board agrees with me that Ginni is the ideal CEO to lead IBM into its second century."

The announcement comes just over a month after HP revealed Meg Whitman would take over the role of as president and chief executive officer following the departure of Léo Apotheker.