Thomson Reuters, the multinational media conglomerate, is looking for a new Chief Executive Officer, as per what sources close to the company say. According to these sources, the company started looking for possible alternatives quite earlier and now the process is underway. The search for the perfect CEO has resulted in a hiring of Spencer Stuart, which will be creating a shortlist of potential candidates. The final selection of CEO would be based on this list, which would contain both internal and external contenders for the position. This happens as Jim Smith, who has been captaining the empire since 2012, is stepping down.
As mentioned earlier, the process is already halfway, and the handover of the position would be taking place sometime this year. The reports are based on sources who are close to the selection procedure, and they’ve also talked about potential candidates within the company. For instance, Neil Masterson, who is currently heading the commercial and technology operations as a co-COO, is one of the people from the company who could succeed Jim Smith. At the same time, a search firm like Spencer Stuart would be looking at every other possibility while creating a shortlist based on various pointers.
The stepping down of Jim Smith is one of the biggest changes in the growth of Thomson Reuters, which has one of the most important roles in worldwide journalism and the economy itself. “The board is fully supportive of Jim Smith and his management team. We are aligned on strategy and direction. And, we are working closely with management to achieve continued success for years to come,” David Thomson, who is the chairman of Thomson Reuters was quoted saying about the work of Jim Smith and his team. Now, it is up to Spencer Stuart to make the right list of people.