Thomson Reuters Corp., the financial news and information provider, named James Smith chief operating officer and Stephane Bello chief financial officer, and said it will reorganize its business divisions.
Smith, currently the operating chief of the Professional division, will begin his new position today, the New York-based company said today in a statement. Bello, now finance chief of the Professional division, will start in his new role Jan. 1. Robert Daleo, the company’s CFO since 1998, will retire in July 2012 when he turns 63.
Thomson Reuters said it will disband its divisional structure and move to a set of focused business units, maintaining its current financial reporting structure for the rest of the year. The change will let the company work better across business units and achieve efficiencies, Chief Executive Officer Tom Glocer said in the statement.
Thomson Reuters fell 14 cents C$28.74 at 4 p.m. in Toronto Stock Exchange trading. The shares have dropped 23 percent this year.
Bloomberg LP, the parent of Bloomberg News, competes with Thomson Reuters in selling financial and legal information and trading systems.