Reuters Names Penn To Lead New E-Commerce Division

VENDOR STRATEGIES

LONDON--Reuters has named Jeremy Penn, currently managing director, Asia, to head a new operating unit, to be known as Reuters Ventures. The division, which will sit alongside Reuters Information and Reuters Trading Systems organizationally, represents a formalization of Reuters' various Internet and e-commerce initiatives.

Reuters Ventures will be the vehicle for Reuters' investments and other activities in new media. As such, it will be responsible for the relationship with Dow Jones Reuter