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Thomson Reuters transformation will require 'significant changes'

Thomson Reuters' chief transformation officer delivered a progress report on a company-wide shift in focus and told its 55,000 staff transformation will require some significant changes.

Neil Masterson was appointed to the role last October by chief executive James Smith with the task of leading “a broad-based dialogue to help us shift from a portfolio of businesses to a true enterprise that is focused on innovating for our customers...” The aim, Smith said, was to redefine the intersection of information and technology.

Masterson, previously in charge of the financial and risk division’s investors business, said several workstreams headed by a senior leader had been set up.

“Ultimately, this is about building a new Thomson Reuters - one that is better positioned to capitalize on changing markets, delight our customers and engage our employees,” he said.

“We will know we have succeeded when our customers say we are more responsive and less complex, and we are bringing them better products faster than we ever have before. Importantly, success will also mean we can provide our employees with greater opportunities, a more innovative culture, stronger rewards and an even better place to build a career.”

He added: “This transformation will require some significant changes, and I know that can be unsettling at times. But change is in our company’s DNA. We have a long history of transforming ourselves and coming out stronger on the other side. I am confident that this transformation will strengthen our company’s foundation and drive our future growth.”

As with a previous progress report, Masterson invited staff to watch a video. ■

Thomson Reuters