CEO Doctoroff bids farewell to Bloomberg
Pompeo writes, “‘I love this company, and there’s a part of me that can’t help but feel a bit of disappointment that I won’t be involved in all of the amazing things you will do in the future,’ Doctoroff wrote in an internal memo provided to Capital. ‘I’m deeply proud of what we’ve achieved together over these years under profoundly challenging conditions.’
“Doctoroff’s departure comes as Bloomberg L.P.’s founder and majority shareholder, Michael Bloomberg, has resumed leadership of the company less than a year after he concluded his third term as mayor of New York, where Doctoroff once served as his deputy mayor for economic development.
“Bloomberg initially returned to Bloomberg L.P.—a provider of financial data, news and media that makes most of its money from a lucrative subscription service—in January. It wasn’t until September, however, that the company announced Bloomberg would once again take over day-to-day operations, but by that time insiders felt the writing was on the wall.
“Bloomberg L.P. looks much different than it did when Doctoroff took the helm seven years ago. Its media division has been expanding over the past few years with magazines, like Bloomberg Businessweek, and a suite of digital franchises that are slowly rolling out in a bid to increase the company’s scale and influence with general consumers.”
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