David Thomson
TR chairman David Thomson's wealth up $53.5 million in a day
Monday 05 March 2012
The increase meant that Thomson, pictured, saw a 5.8 per cent rise in his wealth over the past 12 months.
The calculation was made by Bloomberg which placed Thomson 19th in its Billionaires Index, a daily ranking of the world’s 20 wealthiest individuals, launched on Monday. The index excludes Bloomberg founder Michael Bloomberg because the privately-held company said it does not cover itself.
Thomson, 54, was described by Bloomberg as the patriarch of Canada’s wealthiest family controlling a media and technology giant as well as large holdings in telecommunications and commodity research through the family investment arm Woodbridge. “Thomson himself is known for large investments in Canadian real estate, a spectrum of art genres and a stake in an NHL hockey team, the Winnipeg Jets,” it added.
Top of the billionaires list is Carlos Slim Helu, Mexican telecommunications tycoon, with a fortune of $68.5 billion, followed by Bill Gates, Microsoft founder, $62.4 billion.
● SOURCE Bloomberg
Thomson family affirms importance of Reuters news – Stephen Adler
Saturday 25 February 2012
Following a meeting with the company’s leadership team at which he was asked to report on progress, Adler said he had never been more optimistic about the opportunities ahead, the support Reuters News has from the company, or the significant impact everyone can make in 2012.
“No news organization is as well positioned as Reuters to excel in the coming months and years: We are global in a global economy and digital in a digital world, with a multi-talented team, a passion for great journalism, a strong business model, and the staunch support of the company’s leaders and its majority shareholders and board of directors,” he said in an internal message titled Our Path Ahead.
Adler, who became editor-in-chief in February 2011, said his presentation to editorial staff reflected conversations within Reuters News all year long, including as recently as his “Town Hall meetings” in London last week.
Summarising his remarks, Adler said: “Our goal at Reuters News is to achieve journalistic excellence, harness that excellence to benefit our users, and thereby strengthen Thomson Reuters’ individual businesses and the company as a whole.
“We aim to be the best journalism organization in the world – best at being fast, accurate, and fair and best at offering insight, originality, and depth.
“Being fast, accurate, and fair remains absolutely essential to Reuters coverage, and we are committed to preserving and extending our leadership in this area. As news providers proliferate and standards waver elsewhere, our rock-solid reliability becomes an even stronger competitive advantage for us. And of course it is mandated by the Trust Principles.
“While fast, accurate, and fair are absolutely necessary, they are no longer sufficient in a changing company and a changing world. Our users also seek ideas and deeper understandings, so they can make smarter business decisions, advise clients more intelligently, achieve fresh insights, and influence the global conversation. Meeting these needs has become a bigger imperative as Reuters News has come to serve all the company’s businesses – traders and Media clients to be sure but also investment bankers, investment advisers, wealth managers, lawyers, accountants, compliance officers, and the scientific and pharma communities, among others. Facts alone are not enough for this demanding customer base – insights that can spur actions are also essential.
“Our mantra of news AND insight also reflects external changes, as a flood of basic news and information becomes available free via the web and social media. In this environment, we must differentiate ourselves by adding value – through our trustworthiness and our insight – lest we fall victim to the commoditization that has undermined the businesses of other news providers. Hence, we are nourishing Breakingviews, op-ed commentary, enterprise journalism, data mining, innovative video programming, stronger financial graphics, and other ventures that provide differentiated value, while we bolster our training, desk strength, technology, and talent to enhance speed, accuracy, and fairness.”
● SOURCE Reuters
Tom Glocer out as Thomson family appoints new CEO
Thursday 01 December 2011
The Financial Times quoted people close to the company as saying that David Thomson, chairman, and Geoffrey Beattie, the Canadian family’s consigliere who runs its investment vehicle Woodbridge, have been frustrated with the Thomson Reuters share price, which has fallen from above $41 to $27.22 this year.
The 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 was essentially the old Reuters and mainly served financial institutions.
Glocer, 52, pictured left, has led Thomson Reuters since 2008, when Canada’s Thomson family completed its acquisition of Reuters. A mergers and acquisitions lawyer, he joined Reuters in 1993 and became the agency’s first American chief executive and the first not to have been a journalist in 2001.
He negotiated Reuters’ sale to the owner of Thomson Financial shortly before the global financial crisis. The merged group enjoyed almost three years of better than expected cost savings from the deal, but has struggled in the last year to roll out a financial services product called Eikon that was meant to unify the two legacy companies’ multiple data products.
By replacing him, the Thomson family effectively removes the last senior Reuters executive from the merged company’s top echelon.
Smith, pictured right, is a former journalist who joined the Thomson Newspaper Group in 1987. Until a few months ago he was head of the professional unit, which sells legal, tax and accounting products. That business has weathered the financial crisis much better than markets.
“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. “Jim Smith is a very talented executive with whom I have worked closely over the past four years; he is ready to lead Thomson Reuters.”
The company’s stock has lost about 30 per cent of its value over the past six months as its banking and financial customers laid off thousands of employees and slashed costs.
David Thomson said in a statement: “Tom will be remembered as the individual who turned around Reuters ten years ago, led the company to growth and guided its sale to form Thomson Reuters. Over the past four years, Tom successfully directed an extensive integration, expanded our business internationally, revitalized the Reuters news organization and championed talent across the entire business. The board joins me in thanking Tom for his dedication and service to our company and wishes the very best for him and his family.”
He added: “Jim Smith will provide strong leadership for Thomson Reuters at this juncture. He has earned the respect and confidence of his colleagues and the board alike. His instincts and his customer focus have been the basis of a remarkable career in our business.
“Working with Tom Glocer, the board oversaw the successful execution of an established succession plan in the second half of 2011 and we look forward to beginning the new year with a new management team, new organizational structure, and ever stronger commitment to deliver long-term, sustainable value for all shareholders.”
The new organisational structure will consist of the following business units: financial and risk, legal, intellectual property and science, tax and accounting, and global growth organisation.
● VIDEO
● SOURCE Thomson Reuters | Reuters | The New York Times | Financial Times
Another major shake-up as Thomson Reuters disbands dual structure
Wednesday 28 September 2011
In the second major management shake-up in two months, Thomson Reuters disbanded its two-division structure on Wednesday and promoted a senior executive to the new role of chief operating officer. Tom Glocer remains chief executive. Robert Daleo, chief financial officer, will leave next year.
The company said James Smith, chief executive officer of the professional division, would become chief operating officer immediately. At the same time, the professional and markets divisions are disbanded and will “transition to a set of focused business units” reporting to head office.
Both Daleo and Smith were Thomson Corporation executives when the Toronto-based company bought Reuters in 2008.
“The changes we are announcing today will streamline our organization and enable us to work better across business units to achieve growth and capture operating efficiencies from scale,” said Glocer. “The professional markets in which we operate are marked by increasing collaboration among specialists and Thomson Reuters must operate with the speed and agility needed to serve these demanding professionals.”
Daleo, chief financial officer since 1998, will retire in July 2012 when he turns 63. Stephane Bello, chief financial officer of the professional division, will succeed him as chief financial officer of Thomson Reuters, effective 1 January 2012. Daleo will then serve as vice-chairman of the group until his retirement.
David Thomson, chairman of Thomson Reuters, said: “Bob Daleo has guided the financial operations of the company for more than a decade through three chief executives. Retirement has been anticipated for some time and we shall miss the presence of a trusted and valued colleague. Bob’s contributions to the businesses have been immense. Our evolution into a global electronic information company owes a great debt to him. Bob’s advice and leadership will be sorely missed, but those qualities remain in place over the months ahead to all our benefit.”
“Stephane Bello is the perfect choice to succeed Bob because of his strategic and analytical strengths, proven leadership abilities and deep knowledge of the company and our markets,” said Glocer. “He will work closely with Bob, Jim and me over the next several months to ensure a smooth transition and uphold the high standards of integrity and financial reporting set by Bob Daleo.”
Following the sudden departure in July of Devin Wenig, head of markets, Thomson Reuters promoted Smith, chief executive of the professional division that caters to lawyers, accountants and scientists, to the new role of chief operating officer.
The Financial Times reported that the latest moves take some burden from Glocer, who took hands-on control of markets after Wenig’s exit, which was seen as a sign of the group’s controlling shareholder, Canada’s Thomson family, exerting tighter control.
Glocer told the FT that the split into markets and professional divisions had made sense when Thomson Corporation bought Reuters and needed to concentrate on merging its financial data businesses without distracting its professional units.
“Certainly for the first two years it worked very well like that. This year, I concluded markets wasn’t coming out of the integration the way it needed to and I had to take the first step in July,” he said. “In the perfect world, markets would have been growing faster this year and I would have moved in an orderly way to this structure” in 2012, he said.
The FT said Smith’s promotion could elevate his standing as a possible internal successor to Glocer, who said: “He’s always been in the frame as far as I’m concerned, but I’m not planning to go anywhere.”
In a message to staff, Glocer said his strategic goals were simple: to work better across business units to meet the increasingly complex demands of customers and capture growth opportunities; to leverage Thomson Reuters’ scale and achieve efficiencies by building innovative technology platforms that can be shared across the company; and to square off against competitors as a whole company which is greater than the sum of its parts.
He said the priorities he set in July for the markets division of restarting the sales engine and resetting Eikon in the context of the company’s broader product strategy had not changed, nor had the goal of creating a strong performance culture.
“These last two months acting as both CEO of Thomson Reuters and CEO of the Markets division have convinced me of two important things. First, no matter what labels we apply to our units, we have great people who are eager to work together to better serve our customers and grow our company. Second, this must be a team effort but with clearly defined roles and accountability for performance. I am looking forward to working closely with Jim, Bob, Stephane and our other leaders to achieve success and excellence at Thomson Reuters.”
● SOURCE Reuters | Financial Times
The company said James Smith, chief executive officer of the professional division, would become chief operating officer immediately. At the same time, the professional and markets divisions are disbanded and will “transition to a set of focused business units” reporting to head office.
Both Daleo and Smith were Thomson Corporation executives when the Toronto-based company bought Reuters in 2008.
“The changes we are announcing today will streamline our organization and enable us to work better across business units to achieve growth and capture operating efficiencies from scale,” said Glocer. “The professional markets in which we operate are marked by increasing collaboration among specialists and Thomson Reuters must operate with the speed and agility needed to serve these demanding professionals.”
Daleo, chief financial officer since 1998, will retire in July 2012 when he turns 63. Stephane Bello, chief financial officer of the professional division, will succeed him as chief financial officer of Thomson Reuters, effective 1 January 2012. Daleo will then serve as vice-chairman of the group until his retirement.
David Thomson, chairman of Thomson Reuters, said: “Bob Daleo has guided the financial operations of the company for more than a decade through three chief executives. Retirement has been anticipated for some time and we shall miss the presence of a trusted and valued colleague. Bob’s contributions to the businesses have been immense. Our evolution into a global electronic information company owes a great debt to him. Bob’s advice and leadership will be sorely missed, but those qualities remain in place over the months ahead to all our benefit.”
“Stephane Bello is the perfect choice to succeed Bob because of his strategic and analytical strengths, proven leadership abilities and deep knowledge of the company and our markets,” said Glocer. “He will work closely with Bob, Jim and me over the next several months to ensure a smooth transition and uphold the high standards of integrity and financial reporting set by Bob Daleo.”
Following the sudden departure in July of Devin Wenig, head of markets, Thomson Reuters promoted Smith, chief executive of the professional division that caters to lawyers, accountants and scientists, to the new role of chief operating officer.
The Financial Times reported that the latest moves take some burden from Glocer, who took hands-on control of markets after Wenig’s exit, which was seen as a sign of the group’s controlling shareholder, Canada’s Thomson family, exerting tighter control.
Glocer told the FT that the split into markets and professional divisions had made sense when Thomson Corporation bought Reuters and needed to concentrate on merging its financial data businesses without distracting its professional units.
“Certainly for the first two years it worked very well like that. This year, I concluded markets wasn’t coming out of the integration the way it needed to and I had to take the first step in July,” he said. “In the perfect world, markets would have been growing faster this year and I would have moved in an orderly way to this structure” in 2012, he said.
The FT said Smith’s promotion could elevate his standing as a possible internal successor to Glocer, who said: “He’s always been in the frame as far as I’m concerned, but I’m not planning to go anywhere.”
In a message to staff, Glocer said his strategic goals were simple: to work better across business units to meet the increasingly complex demands of customers and capture growth opportunities; to leverage Thomson Reuters’ scale and achieve efficiencies by building innovative technology platforms that can be shared across the company; and to square off against competitors as a whole company which is greater than the sum of its parts.
He said the priorities he set in July for the markets division of restarting the sales engine and resetting Eikon in the context of the company’s broader product strategy had not changed, nor had the goal of creating a strong performance culture.
“These last two months acting as both CEO of Thomson Reuters and CEO of the Markets division have convinced me of two important things. First, no matter what labels we apply to our units, we have great people who are eager to work together to better serve our customers and grow our company. Second, this must be a team effort but with clearly defined roles and accountability for performance. I am looking forward to working closely with Jim, Bob, Stephane and our other leaders to achieve success and excellence at Thomson Reuters.”
● SOURCE Reuters | Financial Times
Police drop sources order
Tuesday 20 September 2011
London's Metropolitan police wanted a court order to force the newspaper's reporters to reveal confidential sources for articles disclosing that murdered teenager Milly Dowler's phone was hacked on behalf of the News of the World. They claimed a reporter could have incited a source to break the Official Secrets Act.
Tuesday’s Scotland Yard announcement came not long after hundreds of media people discussed the police initiative and other press freedom issues. The event, chaired by Reuters editor-at-large Sir Harold Evans, was attended by a top-level contingent from Thomson Reuters including chairman David Thomson, CEO Tom Glocer, pictured, editor-in-chief Stephen Adler, and other editors and executives.
Police left open the possibility the so-called production order could be applied for again, but a senior police source said: “It’s off the agenda. There will be some hard reflection. This was a decision made in good faith, but with no appreciation for the wider consequences. Obviously the last thing we want to do is to get into a big fight with the media. We do not want to interfere with journalists.”
Editors speaking at the Thomson Reuters event recognised Fleet Street had to mend its ways but appealed to the government not to crush Britain's cherished free speech with draconian laws. Top lawyers, editors and politicians agreed during the debate on “The Press We Deserve” that Britain’s existing Press Complaints Commission, a voluntary self-regulatory body, had failed in its duty to keep the press honest but differed sharply over the solution.
Evans said the British press was in its greatest danger since two journalists were jailed for not revealing their sources in 1963.
Editor’s note: The original version of this report headed “Police drop sources order after Thomson Reuters debate” erroneously implied that the police announcement was a consequence of the Thomson Reuters debate. It was not. It was a coincidence. Mea culpa.
Photo: Julie Mollins
● CLICK to view Reuters video
● SOURCE The Guardian | Reuters
Former German bank chief joins Thomson Reuters board
Monday 25 July 2011
Thomson Reuters on Monday announced the appointment of Wulf von Schimmelmann, former CEO of Germany’s largest independent retail bank Deutsche Postbank, to its board of directors.
David Thomson, chairman, said: “Wulf’s background in financial services complements our global strategy. We look forward to having his counsel as we continue to expand our businesses in strategic markets in Europe and around the world.”
Von Schimmelmann, 64, is a director of Accenture and of Western Union; chairman of the supervisory board of Deutsche Post DHL; and a member of the supervisory board of Maxingvest. He began his career at McKinsey, working in Switzerland, the United States and Germany.
● SOURCE Thomson Reuters
David Thomson, chairman, said: “Wulf’s background in financial services complements our global strategy. We look forward to having his counsel as we continue to expand our businesses in strategic markets in Europe and around the world.”
Von Schimmelmann, 64, is a director of Accenture and of Western Union; chairman of the supervisory board of Deutsche Post DHL; and a member of the supervisory board of Maxingvest. He began his career at McKinsey, working in Switzerland, the United States and Germany.
● SOURCE Thomson Reuters
Thomson Reuters chief moves up list of world's super rich
Wednesday 09 March 2011
Thomson, third Baron Thomson of Fleet and the richest person in Canada, rose three places to 17 with a fortune of $23 billion, while Bloomberg fell seven spots to 30 with $18.1 billion, in Forbes magazine’s annual listing of the super rich.
The world's richest man, Mexican tycoon Carlos Slim, retained the top spot for the second year in a row and made more money than any of the world’s other 1,209 billionaires in the past year: $20.5 billion, taking his fortune to $74 billion.
Microsoft co-founder Bill Gates held on to second place, growing his wealth to $56 billion from $53 billion last year, and US investor Warren Buffett again came in third with $50 billion, up from $47 billion.
Forbes ranked the billionaires' fortunes at the close of global stock markets on 14 February.
● SOURCE Forbes
Thomson and Reuters 'a matter for the next generation' - David Thomson
Saturday 18 September 2010
“Canadian media family executive David Thomson rarely ventures outside his Toronto hometown, but he was in London for a board meeting of Thomson Reuters followed by drinks and dinner with the City’s movers and shakers,” the Financial Times reported on Saturday.
“At the British Museum event midweek, he expressed faith in the digital media future, ahead of a relaunch of the family’s Globe and Mail publication in Canada. But he shrugged off the question of whether the Thomson name would remain twinned with Reuters as a matter for the next generation.”
The FT gave no further details about Thomson’s remarks at the event. It said chief executive Tom Glocer welcomed HSBC chairman and UK trade minister designate Stephen Green, who was a fellow panellist at a conference held during the week by strategic advisory group Oxford Analytica on global risk and the global economy.
Thomson, 53, grandson of the family media empire’s founder the late Lord Thomson, became chairman of Thomson Corporation in 2002 and chairman of the merged entity after the acquisition of Reuters in 2008. He does not use his hereditary title of 3rd Baron Thomson of Fleet. Forbes magazine ranks him and his family the richest in Canada and 20th richest in the world with a fortune of C$19 billion.
Lord Thomson founded a media dynasty, ensuring that control passed to his son, Kenneth who died in 2006, and his son, David. In his 1975 autobiography, Lord Thomson wrote: “David, my grandson, will have to take his part in the running of the Organisation and David’s son, too. With the fortune that we will leave to them go also responsibilities. These Thomson boys that come after Ken are not going to be able, even if they want to, to shrug off these responsibilities.”
● SOURCE Financial Times
Chairman David Thomson named Canada's richest billionaire
Monday 14 June 2010
Thomson, who turned 53 on Saturday, ranks 20th overall on Forbes’ annual list of billionaires, edging out Michael Bloomberg, founder of the eponymous financial news service and mayor of New York.
“Thomson avoids the spotlight despite his substantial media holdings (which includes Reuters, acquired in 2008, national newspaper of record The Toronto Globe and Mail, and Canada’s CTV television network) and his gaudy title (3rd Baron Thomson of Fleet),” the website MarketWatch reported.
According to a plan devised decades ago by Thomson Corporation founder Roy Thomson, control of the family fortune passed to David Thomson when his father Kenneth died in June 2006. David Thomson became the 3rd Baron Thomson of Fleet, a British peerage, on his 49th birthday.
"David, my grandson, will have to take his part in the running of the organisation and David's son, too," Roy Thomson wrote in his 1975 autobiography. "With the fortune that we will leave to them go also responsibilities. These Thomson boys that come after Ken are not going to be able, even if they want to, to shrug off these responsibilities."
The Thomson family is the richest in Canada and 20th richest in the world according to Forbes. David Thomson’s son from his first marriage is the designated heir to the family business empire.
● SOURCE MarketWatch
Thomson Reuters reveals long-term targets
Monday 19 April 2010
Thomson Reuters on Monday revealed long-term targets for mid-to-high single digit revenue growth rates, operating profit margins in the mid-20 per cent range, and free cash flow in excess of $3 billion.
"The severity and duration of the 'Great Recession' of 2009 has meant that it will take us a little longer to reach these goals, but they appear no less achievable to us," the company said in its latest annual report.
A joint message to shareholders from chairman David Thomson and chief executive Tom Glocer said that despite the most challenging economic conditions they had seen in their business careers the company delivered resilient operating and financial performance in 2009. "We would characterise our results as being excellent on a relative basis and acceptable, but far short of what we believe Thomson Reuters has the potential to achieve, on an absolute basis."
They said they were very proud that while they had worked hard to reduce costs and realise savings through the integration of the acquired Reuters businesses, they had been able to continue and, in fact, increase investment in strategic new product platforms and in the international expansion of the business. “We are well ahead of plan in the integration of Reuters, and by year-end 2009 we had achieved combined run-rate savings of $1.1 billion from our integration and legacy savings programs. We now expect to achieve some 2.5 times greater savings from the Reuters integration ($1.2 billion) than originally forecast."
The Reuters integration had also continued to outpace expectations in terms of bringing new content, technology and services to customers, combining the best elements of the cultures of the legacy organisations, and providing new opportunities for Thomson Reuters’ 55,000 employees.
This year, Thomson Reuters could continue and accelerate the process of taking its businesses global – especially to tap higher growth rates in rapidly developing economies, and add other market sectors where professionals need its special combination of must-have content and technology to do their jobs.
"In 2010, we are following both of these paths to restart growth in our businesses that have been hardest hit by the global recession and accelerate growth in our units that have continued to grow right through the crisis…
"Over the longer term, we believe that our business can achieve mid-to-high single digit revenue growth rates, operating profit margins in the mid-20% range, and free cash flow in excess of $3 billion. The severity and duration of the 'Great Recession' of 2009 has meant that it will take us a little longer to reach these goals, but they appear no less achievable to us."
The report is in a new multimedia format – an online mix of video, text, pictures and animated graphics. "Going digital has made us a much greener company," Glocer said in a video message. "No trees were chopped down in the making of this annual report, unless fossil fuel was consumed in delivering it to you."
Thomson Reuters shareholders annual general meeting is to be held in Toronto on 14 May.
● CLICK to view Thomson Reuters 2009 annual report
"The severity and duration of the 'Great Recession' of 2009 has meant that it will take us a little longer to reach these goals, but they appear no less achievable to us," the company said in its latest annual report.
A joint message to shareholders from chairman David Thomson and chief executive Tom Glocer said that despite the most challenging economic conditions they had seen in their business careers the company delivered resilient operating and financial performance in 2009. "We would characterise our results as being excellent on a relative basis and acceptable, but far short of what we believe Thomson Reuters has the potential to achieve, on an absolute basis."
They said they were very proud that while they had worked hard to reduce costs and realise savings through the integration of the acquired Reuters businesses, they had been able to continue and, in fact, increase investment in strategic new product platforms and in the international expansion of the business. “We are well ahead of plan in the integration of Reuters, and by year-end 2009 we had achieved combined run-rate savings of $1.1 billion from our integration and legacy savings programs. We now expect to achieve some 2.5 times greater savings from the Reuters integration ($1.2 billion) than originally forecast."
The Reuters integration had also continued to outpace expectations in terms of bringing new content, technology and services to customers, combining the best elements of the cultures of the legacy organisations, and providing new opportunities for Thomson Reuters’ 55,000 employees.
This year, Thomson Reuters could continue and accelerate the process of taking its businesses global – especially to tap higher growth rates in rapidly developing economies, and add other market sectors where professionals need its special combination of must-have content and technology to do their jobs.
"In 2010, we are following both of these paths to restart growth in our businesses that have been hardest hit by the global recession and accelerate growth in our units that have continued to grow right through the crisis…
"Over the longer term, we believe that our business can achieve mid-to-high single digit revenue growth rates, operating profit margins in the mid-20% range, and free cash flow in excess of $3 billion. The severity and duration of the 'Great Recession' of 2009 has meant that it will take us a little longer to reach these goals, but they appear no less achievable to us."
The report is in a new multimedia format – an online mix of video, text, pictures and animated graphics. "Going digital has made us a much greener company," Glocer said in a video message. "No trees were chopped down in the making of this annual report, unless fossil fuel was consumed in delivering it to you."
Thomson Reuters shareholders annual general meeting is to be held in Toronto on 14 May.
● CLICK to view Thomson Reuters 2009 annual report
Unilever man to join Thomson Reuters board
Tuesday 14 October 2008
Manvinder Singh Banga of Unilever is to join Thomson Reuters as a non-executive director from 1 January 2009.
Banga, 53, who is based in London, is the President of Unilever’s Foods, Home and Personal Care business and one of the seven-member executive committee reporting to the company’s CEO.
David Thomson, chairman, said, “I am delighted to welcome Vindi to Thomson Reuters, with his wealth of experience in developing and emerging markets. During his career, he has worked in global, regional and national roles in London, Singapore and Mumbai. He has deep knowledge of Asian business which will prove invaluable as Thomson Reuters looks to capitalize further on opportunities in that region.”
Richard Olver, who joined the Reuters board in December 1997, will retire at the end of this year.
“I would like to thank Dick Olver for his long commitment to Reuters and the continuity he has been providing as we move through the important Thomson Reuters integration. His contributions are highly valued by the Board,” Thomson said.
● SOURCE Thomson Reuters
Banga, 53, who is based in London, is the President of Unilever’s Foods, Home and Personal Care business and one of the seven-member executive committee reporting to the company’s CEO.
David Thomson, chairman, said, “I am delighted to welcome Vindi to Thomson Reuters, with his wealth of experience in developing and emerging markets. During his career, he has worked in global, regional and national roles in London, Singapore and Mumbai. He has deep knowledge of Asian business which will prove invaluable as Thomson Reuters looks to capitalize further on opportunities in that region.”
Richard Olver, who joined the Reuters board in December 1997, will retire at the end of this year.
“I would like to thank Dick Olver for his long commitment to Reuters and the continuity he has been providing as we move through the important Thomson Reuters integration. His contributions are highly valued by the Board,” Thomson said.
● SOURCE Thomson Reuters
