- Thomson Reuters has announced a number of changes in its management team. These are the details.
Thomson Reuters has announced a number of changes in its management team. This includes naming Steve Hasker as president and chief executive officer, succeeding Jim Smith. With this new role, Hasker has also been appointed to the Thomson Reuters Board of Directors with Smith stepping down as a director.
And Thomson Reuters also announced that Mike Eastwood, senior vice president and head of corporate finance, will succeed Stephane Bello as the current chief financial officer.
These appointments and organizational changes will go into effect on March 15. And the announcement was made as the company reported it had met or exceeded its annual earnings guidance for the 8th consecutive year, achieving 4% organic revenue growth. Plus the company also announced its 27th consecutive year of dividend increases as part of its fourth-quarter and full-year 2019 results.
‘Smith is going to become chairman of the Thomson Reuters Foundation — which focuses on media freedom, inclusive economies, and access to justice around the world. And he will also provide transitional support to the new CEO into 2021.
Hasker had started his career with PwC where he qualified as a chartered accountant. And he received an MBA and master’s degree in international affairs from Columbia University before spending over a decade with McKinsey as a partner in the global media, information, and technology practice.
Then Hasker went on to serve as global president and chief operating officer of Nielsen before joining global alternative asset firm TPG, first as CEO of its portfolio company CAA Global, and then as a senior adviser to TPG Capital.
The current CFO Stephane Bello will become vice chairman of Thomson Reuters with responsibility for overseeing its investment in Refinitiv — which is expected to be sold to London Stock Exchange Group plc in the second half of the year. And in his new role, Bello will oversee strategy, commercial excellence, and business development and support the CFO transition into 2021.
Eastwood worked at Thomson Reuters for over two decades, operating as senior vice president and head of corporate finance since 2016. And he has played an integral role in creating the “new” Thomson Reuters following the company’s sale of a majority interest in Refinitiv in 2018.
And Eastwood was formerly chief operating officer of Thomson Reuters Latin America, CFO of the Intellectual Property & Science business (sold in 2016) and has also held several senior roles within the finance organization.
Key Quotes:
“This is the right time to pass the baton to the next generation of leadership, given the continued success of our business and the spin-off of our market data and trading operations. The organization is on its firmest footing in years. The foundation has been laid for continued success and Steve is the right leader to take us forward. His deep expertise in data, business information, technology and professional services is just what we need to capitalize on the many opportunities the future holds. I am confident handing over the reins and happy to welcome him.”
– Jim Smith
“Thomson Reuters is an impressive company that I have respected for a long time, so I could not be more excited to join the team. Building on this excellent foundation – a world-class business and a culture of deep expertise and integrity – we have a great opportunity to lead with customers as technology transforms working life. Job one for me is to get on the ground and spend plenty of time with our customers and employees.”
– Steve Hasker
“We are deeply grateful for Jim’s service and long career with Thomson Reuters. Jim and Stephane have led the recent transformation which has positioned the company to realize its potential into the future. I am pleased they will continue to assist with the transition. The succession process has been both deliberate and collaborative. Steve Hasker is known for being innovative, with immense integrity, intellect and people skills. Mike is an operator with solid judgment and experience. Our future remains in fine hands under Steve, his seasoned executives and a group of dedicated professionals on the broader team.”
– David Thomson, chairman of the Thomson Reuters board of directors
