Doctoroff Stepping Aside as Bloomberg Rejoins
Daniel Doctoroff, the current CEO, will step aside for Bloomberg's re-entry. Having run the company from 2008 to the present, Doctoroff also served as the deputy mayor for economic development and rebuilding in Bloomberg's 12-year administration. Bloomberg did not stand for re-election as mayor for this term, instead ceding the office to Bill de Blasio, a Democrat who beat Republican Joe Lhota with a landslide victory in November 2013.
Bloomberg is unquestionably the dominant information provider in the market, with its terminal product ingrained in Wall Street firms. However, it has suffered a number of setbacks recently, with reporters from its news division caught with access to privileged information, leading other firms and end users to explore messaging services.
In a brief statement, Bloomberg said that he never planned to return to the company, but Doctoroff had convinced him to do so.
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