Tom Glocer’s departure as chief executive of Thomson Reuters marks “the beginning of the end of a turbulent period of executive change” for the information group, Jim Smith, his successor, has told staff. It is the third sudden upheaval in five months left many in the company shaken and its shares down another 1.5 per cent to $26.81 on Friday, as reported by the Financial Times.
Thomson Reuters (TSX/NYSE: TRI), announced the new organizational structure and leadership it will adopt as of January 1, 2012. This new, integrated structure aligns our business with our key customer segments and will consist of the following business units:
- Financial & Risk: David Craig, president
- Legal: Mike Suchsland, president
- Intellectual Property & Science: Chris Kibarian, president
- Tax & Accounting: Brian Peccarelli, president
- Global Growth Organization: Shanker Ramamurthy, president
On December 31, 2011, Thomas H. Glocer, chief executive officer of Thomson Reuters and Reuters Group PLC since 2001, will retire and be succeeded on January 1, 2012 by James C. Smith, currently chief operating officer of Thomson Reuters. Mr. Glocer will also retire as a director of Thomson Reuters on December 31, 2011.
The business unit leaders named above will report to Mr. Smith, as will Editor-in-Chief Stephen J. Adler, Susan Taylor-Martin, president of Media and Jon Robson, who will head a new business development office.
Source: Thomson Reuters Press Release
Comments: BIIA Chairman David Worlock offers his interpretation of Thomas H. Glocer “accelerated departure” in his recent blog