London Daily

Focus on the big picture.
Thursday, Oct 23, 2025

Thomson Reuters begins search for new chief executive

Thomson Reuters begins search for new chief executive

The company’s board has hired search firm Spencer Stuart to draw up a shortlist
Thomson Reuters has begun the search for a chief executive to succeed Jim Smith, who has led the $34bn professional information group since 2012. 

Four people with knowledge of the succession process said the Canadian company’s board had appointed Spencer Stuart, the search firm, to draw up a shortlist of internal and external candidates. The search was at an early stage, one said, with the handover unlikely to happen this year.

Two of those people said that Neil Masterson, the co-chief operating officer responsible for commercial and technology operations, was an internal contender. Mr Masterson is one of the few executives at the company who had worked for both Thomson Corporation and Reuters before the Canadian company’s $17bn takeover of the UK financial data group which formed Thomson Reuters in 2008. 

Mr Smith, 60, oversaw the sale of the finance and risk business formed from combining Reuters with the Toronto group’s Thomson Financial division. In a two-stage deal, it first sold a majority stake in the financial data business to a Blackstone-backed consortium for $17bn and then, this summer, it agreed the sale of the renamed Refinitiv to the London Stock Exchange for $27bn. 

The second of those transactions, which is due to close in the second half of 2020, will leave Thomson Reuters a substantial shareholder in the LSE, but it has said that it plans to sell down its stake within five years. That will leave the US-focused Westlaw legal information business as its largest operation, alongside tools for tax, accounting and compliance professionals. 

The Refinitiv-LSE deal, in which Mr Masterson was closely involved, unleashed a flurry of interest in the Reuters News business, several people told the Financial Times, but Mr Smith and the Thomson family members whose voting rights control the company have told would-be buyers it is not for sale. 

Mr Smith, a former Thomson Newspapers journalist who was put in charge of the group’s professional information services after the Reuters deal, came in at a low ebb in January 2012 amid dissatisfaction with the take-up of the new financial data products with which Thomson Reuters hoped to compete with Bloomberg. 

He began by accelerating cost-cutting plans, but top-line growth has picked up more recently. In August, the company reported that new products had helped organic growth in its core business accelerate to 4 per cent in the second quarter, marking its strongest rate for more than a decade. 

Mr Smith was hospitalised in 2018 after experiencing what the company described as “an arrhythmia incident”.

Thomson Reuters shares have more than doubled since his appointment. 

David Thomson, Thomson Reuters chairman, said: “The board is fully supportive of Jim Smith and his management team. We are aligned on strategy and direction. And, we are working closely with management to achieve continued success for years to come.”

The company added: “The board of directors considers succession planning and benchmarking for all key executives a matter of good governance. Hence, the board and management continuously assess internal candidates and work with search firms to scan the external market.”

In an email to colleagues after the FT published news of the search for his replacement, Mr Smith described it as part of the company’s normal succession planning process. “I’m not planning to go anywhere soon,” he said.
Newsletter

Related Articles

0:00
0:00
Close
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
×