The end of the millennium was not pleasant for Reuters' investors. The share price collapsed in October 1999 when CEO Peter Job gave non-answers to investor questions about Reuters' Internet strategy at a conference (IMD, Oct. 25, 1999). The American Depository Shares fell 49 percent from a $93.38 a share on Sept. 9, 1999 to $50.25 a share on Oct. 26.
On Feb. 8, 2000, Job unveiled plans to spend £500 million over the next four years in the migration of Reuters to total Internet delivery (IMD
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