Thomson Reuters has restructured its senior management, appointing as co-chief operating officers Brian Peccarelli (pictured), who takes over as head of legal professionals, and Neil Masterson, with four senior execs set to leave including president of legal, Susan Taylor Martin.
Peccarelli, currently president of tax & accounting, will head all customer-facing operations. He will work to organise 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
A statement out today (4 June) said: “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.”
Masterson, currently executive vice president and chief transformation officer, 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.
Other execs to leave include Gonzalo Lissarrague, president of the global growth organization; chief communications officer Gus Carlson; and chief strategy officer Brian Scanlon.
Thomson Reuters, the parent company of Reuters News, is in the process of selling a 55% stake in its financial and risk unit, which sells data and news primarily to financial customers, to private equity firm Blackstone Group LP. It plans to de-layer the business and reduce its cost base to reflect a smaller organization.
“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.”
“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 Smith.
Reuters News will continue to be led by president and editor-in-chief Steve Adler.