Categories: OLD Media Moves

Thomson Reuters CEO Glocer’s memo on shakeup

Here is the memo that Thomson Reuters CEO Tom Glocer sent out to the news organization’s staffers about the reorganization of its business:

Dear Colleagues,

Following my announcement yesterday about the change in leadership in Markets, this note provides additional details concerning the structure and composition of the new organization. I am not planning any further changes of this scale at Corporate or in the Professional division, where Jim Smith led a similar streamlining effort earlier this year.

Reflecting the two-platform strategy (Eikon and Elektron), I will manage the financial services business of Markets through two closely aligned operating units: Financial Professionals & Marketplaces and Enterprise Solutions. The Financial Professionals & Marketplaces unit will come together over the coming months through the combination of the present Sales & Trading (S&T) and Investment & Advisory (I&A) units. This unit will be led by Shanker Ramamurthy, who currently runs S&T.

Shanker will report directly to me, as will:
• Jon Robson, who will run an expanded Enterprise Solutions unit;
Susan Taylor Martin, whom I have appointed head of our Media business;
• David Turner, who will be responsible for Finance, Strategy, Commercial Policy (to be headed by Chip Cater) and also Sales and Marketing, which will be led by Chris Perry;
• Peter Moss, who will run Content and Customer Experience.

To give Shanker time to ramp up, I&A will report on an interim basis to Bob Daleo, CFO of Thomson Reuters, who will transition the business to Shanker in a careful and open process.

Editor-in-Chief Stephen Adler will also report directly to me, reflecting the cross-company role of Editorial.

Mark Sandham will head up HR for Markets in addition to his current role at Corporate. The HR, Legal and Communications functions will report to their respective function leaders at Corporate. I will chair a new Markets ExCom consisting of Shanker Ramamurthy, Jon Robson, Susan Taylor Martin, David Turner, Peter Moss, Chris Perry, Mark Sandham and Nancy Gardner, who will continue as Markets General Counsel.

As a result of this reorganization, Chris Ahearn, Lee Ann Daly, Joerg Floeck, Eric Frank and John Reid-Dodick will be leaving the company. I would like to thank each of them for their distinctive contributions over many years and to extend best wishes for the future.

As I said in yesterday’s message, these changes to Markets build on and complete the transformation we began in Professional earlier this year. This transformation is about driving growth, unleashing cross-company capabilities and making it easier to get things done. Importantly, it’s also about accountability and transparency. As we work to create a performance-driven culture, let’s make it a culture where results speak the loudest and collaboration is the norm.

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.

View Comments

  • Mr Glocer,

    What would be the new name for the reorg? let me guess "switch back. I guess it would be hard since your best employees left the firm already and now they are working for your competition.

    You should write a book on how Mr Devin and Jorg sank the company.

  • Hi thomas henry glocer,
    Congratulation for your successfully in making corporate malfeasance permanently at thomson reuters by reorganisation.
    Further more you are starting to compromise the legacy thomson corp infrastructure as you did in the past at reuters.
    Infosys should do the transaction thomson reuters health care unit at least next year.
    Advisable yo david thomson should making thomson reuters go private.
    In my opinion, thomson reuters is not deserve to be public listing company due to have poor corporate governance and a lot of crook lawyers working at thomson reuters as well

Recent Posts

Dynamo hires former Business Insider executive editor Harrington

Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…

1 day ago

Bloomberg TV hires Kerubo as desk producer

Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…

1 day ago

Jittery CNBC staff reassured by new boss

In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…

1 day ago

Making business news accessible to a wider audience

Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…

1 day ago

Rest of World hires Lo as China reporter

Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…

1 day ago

Bloomberg rises to No. 7 biz news website

Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…

1 day ago