Thomson Reuters announced on Thursday that Thomson Reuters chief executive Tom Glocer would step down at the end of the year and be replaced by Thomson Reuters chief operating officer James Smith.
The financial news and information company, which is incorporated in Canada and has its headquarters in New York, said that Glocer’s retirement was part of a reorganization of top management.
Glocer, who is 52, will also be giving up his seat as a director of Thomson Reuters on Dec. 31, when he steps down as chief executive officer, Thomson Reuters said.
Reuters news service was acquired by Canada’s Thomson Corp in 2008 and with Glocer’s departure, Thomson Reuters is “effectively removing the last senior Reuters executive from the company’s top echelon,” Reuters said in a story about the management changes.
“Tom will be remembered as the individual who turned around Reuters 10 years ago, led the company to growth and guided its sale to form Thomson Reuters,” Thomson Reuters chairman David Thomson said in a statement.
“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,” he said.
“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,” Thomson added.
In a statement, Glocer said: “By the end of this 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.”
“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,” he said.
Smith, a former journalist, joined the Thomson Newspaper group in 1987 and served as head of the Professional division at Thomson Reuters before becoming chief operating officer.
Thomson Reuters’ Professional division provides legal, tax and accounting, healthcare and science products and has been performing better recently than the Markets division, which supplies financial and other products.
Revenue in the Markets division, which accounts for more than half of the company’s total revenue, increased 5 percent last quarter to US$1.88 billion, but by just 1 percent before currency adjustments.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS