PHOTO FILE: Thomson Reuters Chief Executive Jim Smith speaking about the firm with US private equity firm Blackstone Group LP, during a staff meeting in the town hall in Toronto, Ontario, Canada 31 January, 2018. REUTERS / Chris Helgren / File Photo
NEW YORK (Reuters) – Thomson Reuters CorpTRI.TOA successor to the Chief Executive Officer Jim Smith, who oversaw the sale of a majority share in the news and information provider's financial data business to Blackstone Group Inc-led, has commenced.BX.N) The consortium last year, the Financial Times reported Sunday.
Thomson Reuters enlisted on the search company Spencer Stuart to draft a list of candidates to replace Smith. The Blackstone agreement transfer report earlier this year continues to sell the financial data business, now known as Refinitiv, to the London Stock Exchange Group (LSE.L) for $ 27 billion.
In a statement, Thomson Reuters said: “The Board of Directors considers succession planning and benchmarking for all chief executives to be good governance. The Board and management therefore continuously assess internal candidates and work with search firms to scan the external market. ”
The chairman of the company, David Thomson, said the board was “fully supportive of Jim Smith and his management team. We are consistent with strategy and direction. ”
Smith said in a memo to employees that he was actively involved in the succession planning process.
“To be clear, I don't intend to go anywhere soon,” Smith said. “Know, when the time comes at hand, you will hear from me.” T
Spencer Stuart refused to comment.
Reporting by Mike Spector; Edited by Daniel Wallis
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