Thomas Glocer 'Retires' as CEO of Thomson Reuters

Thomas Glocer, CEO of Thomson Reuters and Reuters Group, is retiring and will be replaced by James Smith beginning on Jan. 1, 2012. Smith is currently the vendor’s COO.

"Jim Smith is a very talented executive with whom I have worked closely over the past four years," Glocer says. "He is ready to lead Thomson Reuters."

Glocer has been the CEO of Reuters since 2001 and remained CEO after the 2008 acquisition of Thomson Corp. He will also step down from his role as a director on Thomson Reuters' board.

"[Thomas Glocer] will be remembered as the individual who turned around Reuters 10 years ago, led the company to growth and guided its sale to form Thomson Reuters," says David Thomson, chairman of Thomson Reuters. "Over the past four years, Tom successfully directed an extensive integration, expanded our business internationally, revitalized the Reuters news organization and championed talent across the entire business."

In an effort to simplify its organizational structure, Thomson Reuters also announced that it will reorganize the company into five business divisions. David Craig will head the financial and risk division, Mike Suchsland will head legal, Chris Kibarian will head intellectual property and science, Brian Peccarelli will head tax and accounting, and Shanker Ramamurthy will head the global growth organization.