Thomson Reuters
Names Brian Peccarelli and Neil Masterson Co-Chief Operating
Officers
Legal and Tax & Accounting
businesses will be aligned into three customer segments
TORONTO, June 4, 2018 -- Thomson Reuters (NYSE/TSX:
TRI) today announced the appointment of co-Chief Operating
Officers, effective July 1.
"Our Legal and Tax & Accounting businesses are the bedrock
for growth, and today's changes will help move decision making
closer to the customer and allow us to serve them better with the
full suite of our offerings," said Jim
Smith, president and CEO of Thomson Reuters. "At the same
time, we are working to become a faster and more agile
organization, and develop the next generation of leadership and
talent."
Brian Peccarelli (President,
Tax & Accounting) has been named co-Chief Operating Officer
with responsibility for Customer Markets. He will be
responsible for all customer-facing operations including driving
sales. Brian will work to organize the businesses and allocate
resources around three customer segments:
-
Legal Professionals – Led directly by Brian Peccarelli
-
Corporates – Led by Piotr
Marczewski
-
Tax Professionals – Led by Charlotte Rushton
Brian has managed the company's fastest growing business for
more than seven years and brings a proven track record of
successfully leading organizations that deliver sustained,
profitable growth.
Both Charlotte and Piotr are seasoned leaders who have held
several senior positions across multiple business units and regions
over a combined three decades with the company.
Neil Masterson (Executive Vice
President and Chief Transformation Officer) has been named co-Chief
Operating Officer with responsibility for Operations &
Enablement. Neil will manage commercial and technology
operations including: helping to build sales capabilities,
expanding the digital customer experience and delivering
simplified, scalable approaches to product and content
development.
Neil has successfully managed the company's Transformation
efforts since 2013 and brings a proven track record of driving
efficiencies, increasing productivity and reducing costs.
As previously disclosed, the company plans to de-layer the
business and reduce its cost base to reflect a smaller organization
when it closes the sale of a 55% interest in its Financial &
Risk business to private equity funds managed by Blackstone
(expected in the second half of 2018).
With these organizational changes, Susan
Taylor Martin, President of the Legal business, has decided
to leave the organization at the end of June. Susan first joined
the company in 1993 and has held a number of senior management
roles, including Managing Director of Thomson Reuters Legal in the
UK and Ireland, President of
Reuters Media and Global Head of Corporate Strategy. She plans to
return to the UK to pursue other opportunities.
"I am deeply grateful for Susan's contributions over her 25 year
career with the business. Susan has been instrumental in growing
our Legal business, developing new solutions that help our
customers work smarter and faster. She has been a driving force
behind efforts to improve the diversity of our workforce and the
inclusivity of our culture. She leaves with an outstanding record
in leadership and my very best wishes as she returns with her
family to the UK," said Mr. Smith.
Gonzalo Lissarrague, President of
the Global Growth Organization, who first joined the company in
1991, will also be leaving the organization as a result of these
changes.
"Gonzalo has been a tremendous advocate for our global growth
aspirations over the years, and has shown huge energy and
commitment to the business. His enthusiasm and understanding for
markets across the globe have helped us focus over the years and
understand the importance of our enterprise approach in new
markets. We wish him well in his future business endeavors," said
Mr. Smith.
Finally, the company will re-size its corporate center to fit
the new organization. As a result, Chief Communications Officer
Gus Carlson and Chief Strategy
Officer Brian Scanlon have also
elected to leave the company.
"I am thankful for Gus' steady and measured counsel over the
years as he tactfully managed the public profile of the company
through periods of intense change. He leaves behind a strong global
brand, a best-in-class communications function and record-high
employee engagement across the organization.
"Brian's contributions will be sorely missed. As the chief
architect of our growth strategy, Brian identified and helped put
the business on an ambitious but attainable path to accelerated
growth following our turnaround," concluded Mr. Smith.
Reuters News will continue to be led by President and
Editor-in-Chief Steve Adler.
The company today also reaffirmed its 2018 financial outlook
communicated in May.
Thomson Reuters
Thomson Reuters is the world's leading source of news and
information for professional markets. Our customers rely on us to
deliver the intelligence, technology and expertise they need to
find trusted answers. The business has operated in more than 100
countries for more than 100 years. Thomson Reuters shares are
listed on the Toronto and New York
Stock Exchanges (symbol: TRI). For more information, visit
www.thomsonreuters.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS
Certain statements in this news
release are forward-looking, including the company's expectations
regarding the impact of the business unit realignment and the
timing for closing of the proposed Financial & Risk
transaction. These forward-looking statements are based on certain
assumptions and reflect our company's current expectations. As a
result, forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results or events to
differ materially from current expectations. There is no assurance
that a transaction involving all or part of the
Financial & Risk business will be completed or that other
events described in any forward-looking statement will materialize.
You are cautioned not to place undue reliance on forward-looking
statements which reflect expectations only as of the date of this
news release. Except as may be required by applicable law, Thomson
Reuters disclaims any obligation to update or revise any
forward-looking statements.
CONTACTS |
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MEDIA
David Crundwell
Senior Vice President, Corporate Affairs
+1 416 649 9904
david.crundwell@tr.com |
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INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations
+1 646 223 5288
frank.golden@tr.com |