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Thomson Reuters Disbands Dual Management Structure – Thomson Family Exerts Greater Control

Thomson Reuters has unveiled its second shake-up in two months, promoting two former Thomson Corp executives as the financial and professional information group disbanded its two-division structure to leave six operating units reporting to head office.

Thomson Reuters elevated Jim Smith, chief executive of the professional division that caters to lawyers, accountants and scientists, to the new role of chief operating officer.

Bob Daleo, chief financial officer of Thomson Corp since 1998 and of the larger group since its 2008 acquisition of Reuters, said he would retire next July at age 63, to be replaced by Stephane Bello, the current CFO of Thomson Reuters Professional.

The moves take some burden from Tom Glocer, the group’s chief executive, who took hands-on control of Thomson Reuters Markets after Mr Wenig’s exit, which was seen as a sign of the group’s controlling shareholder, Canada’s Thomson family, exerting tighter control.   Source: Financial Times

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