Categories: OLD Media Moves

Thomson Reuters CEO Glocer steps down

Thomson Reuters said chief executive Tom Glocer is stepping down on Jan. 1 and will be replaced by chief operating officer James Smith, reports Jennifer Saba of Reuters.

Saba writes, “The news and information company has undergone a series of structural changes and management shake-ups over the past six months to address the disappointing performance of its Markets division, which mainly serves financial institutions.

“By replacing Glocer, Canada’s Thomson family, which acquired control of Reuters Group Plc in 2008 to create Thomson Reuters, is effectively removing the last senior Reuters executive from the company’s top echelon.

“Smith previously was head of the Professional unit, which sells legal, tax and accounting products. The Professional business has weathered the financial crisis much better than the Markets business.

“‘By the end of the year, the organizational strategy and budget work I have been leading will be complete, and the transition plan I launched last summer will have achieved its objectives,’ Glocer said in a statement.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.