Thomson Reuters says CEO Jim Smith in hospital
TORONTO, Feb 13 (Reuters) - Thomson Reuters Corp
Chief Executive Jim Smith was taken to a Toronto
hospital on Monday "after feeling unwell" and remains under
observation at the hospital, the company said on Tuesday.
In his immediate absence, Chief Financial Officer Stephane
Bello will oversee Smith's responsibilities alongside his own,
Thomson Reuters said in a statement.
Two weeks ago, Smith struck a deal to sell a majority stake
in the company's Financial and Risk business to U.S. private
equity firm Blackstone Group LP. The deal, which valued
the unit at around $20 billion including debt, is expected to
close in the second half of 2018, Thomson Reuters has said.
A former journalist, Smith was appointed CEO in January
2012. He began his career at Thomson Corp in 1987 and ran its
North American newspaper business before moving into other
executive roles, including managing the professional publishing
business that served the legal, tax and accounting markets.
Last year, Smith and other members of Thomson Reuters'
executive leadership moved to Toronto from Stamford,
The Blackstone deal that Smith oversaw is the company's
biggest transaction since Canada's Thomson Corp bought
London-based Reuters Group Plc in 2008. The Financial & Risk
business accounts for more than half of Thomson Reuters revenue
and supplies news, data and analytics to banks and investment
houses around the world.
Canada's Thomson family owns 64 percent of Thomson Reuters
through its Woodbridge investment vehicle.
Bello joined Thomson in 2001 and was formerly CFO of the
professional division. He holds law and economic degrees, and
previously worked at General Motors Co.
(Reporting by Amran Abocar; Editing by Tiffany Wu)
First Published: 2018-02-13 15:41:13
Updated 2018-02-13 15:59:27
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