Reuters breaks with tradition with new Chief

LONDON, DEC 6: An American and a lawyer, newly appointed Reuters Chief Tom Glocer breaks a long tradition of naming journalists to run the...

LONDON, DEC 6: An American and a lawyer, newly appointed Reuters Chief Tom Glocer breaks a long tradition of naming journalists to run the global news and information giant.

Glocer, 41, was favoured to lead Reuters by many investors, who say his easy manner and mastery of complex technological questions make him an ideal candidate to carry out the prickly task of moving the company’s core business onto the Internet.

"He has a strong knowledge of Internet technology and what that can do for the group," said Andrew Gordon-Brown, London-based media analyst at investment bank JP Morgan.

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"He is a guy who is comfortable with what it means from a technical perspective to transform this business."

Glocer, the first American to lead the company and only the second non-British National, will replace CEO Peter Job, who steps down as planned in July when he turns 60.

With degrees from Columbia and Yale, Glocer’s rise to the top came quickly, joining the company seven years ago as Reuters America’s deputy general counsel.

He took over the company’s Latin American operations before being promoted to president and finally Chief executive of Reuters Information, the company’s biggest division. He joined the board in June 2000.

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The information division, home to the company’s Financial News and real-time information products, generates about half of Reuters group revenues.

Glocer becomes the ninth Chief executive in the company’s 150-year history. He will move from his present base in New York to world headquarters in London next year.

His rapid climb in Reuters was accompanied by a long bull market on Wall Street, rapid growth in retail stock trading and a record U S economic expansion.

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