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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  London Stock Exchange plc    LSE   GB00B0SWJX34

LONDON STOCK EXCHANGE PLC

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Thomson Reuters says engaged in CEO succession planning

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10/20/2019 | 09:01pm EDT
FILE PHOTO: Thomson Reuters Chief Executive Jim Smith speaks about the deal with Blackstone Group in Toronto

NEW YORK (Reuters) - Thomson Reuters Corp is engaged in succession planning for Chief Executive Jim Smith as "a matter of good governance," the business information company said on Sunday.

The company statement http://www.prnewswire.com/news-releases/thomson-reuters-statement-on-ceo-succession-planning-300941671.html came after the Financial Times reported Thomson Reuters had begun a search for a new chief executive.

David Thomson, the company's chairman, said the board "is fully supportive of Jim Smith and his management team. We are aligned on strategy and direction."

Smith said in a memo to employees he was actively involved in the succession planning process.

"To be clear, I'm not planning to go anywhere soon," Smith said. "Please know that when the time comes to hand over the reins, you will hear it from me."

The Financial Times cited four unnamed sources as saying Thomson Reuters, which owns the Reuters news agency, had hired search firm Spencer Stuart to put together a list of internal and external candidates. The search was at an early stage, the newspaper said.

In a statement, Thomson Reuters said: "The Board of Directors considers succession planning and benchmarking for all key executives a matter of good governance. Hence, the Board and management continuously assess internal candidates and work with search firms to scan the external market."

Spencer Stuart declined to comment and a spokesman for Thomson Reuters declined to comment specifically on whether it had engaged Spencer Stuart.

Smith oversaw the sale of a majority stake in the news and information provider's financial-data business to a Blackstone Group Inc-led consortium last year. Earlier this year, Blackstone agreed to sell the financial-data business, now called Refinitiv, to London Stock Exchange Group for $27 billion (21 billion pounds).

(Reporting by Mike Spector and Peter Henderson; Editing by Daniel Wallis and Lincoln Feast.)

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.11% 14.86 Delayed Quote.170.18%
JUST GROUP PLC -7.59% 45.52 Delayed Quote.-42.38%
LINE CORPORATION 0.00% 5370 End-of-day quote.0.37%
LONDON STOCK EXCHANGE PLC 1.33% 8960 Delayed Quote.15.61%
TEAM, INC. 2.69% 6.5 Delayed Quote.-59.30%
THOMSON REUTERS CORPORATION 0.51% 102.23 Delayed Quote.9.50%
WILL GROUP, INC. 2.75% 935 End-of-day quote.-25.32%
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Net income 2020 539 M 696 M 696 M
Net Debt 2020 335 M 433 M 433 M
P/E ratio 2020 63,2x
Yield 2020 0,84%
Capitalization 31 443 M 40 735 M 40 606 M
EV / Sales 2020 13,1x
EV / Sales 2021 12,3x
Nbr of Employees 4 965
Free-Float 97,7%
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David Adam Schwimmer Group Chief Executive Officer & Executive Director
Donald Austin Robert Chairman
David Shalders Chief Operating & Integration Officer
David Porter Warren Group Chief Financial Officer & Executive Director
Anthony McCarthy Chief Information Officer
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