People: Reuters appoints new chief executive

People: Reuters appoints new chief executive

Reuters has announced the appointment of 41-year old US national Tom Glocer as group chief executive with effect from July 2001. He will replace Peter Job who retires from the company in July when he reaches 60.

Tom Glocer is currently CEO of Reuters Information - the group's largest business division with 1999 revenues of £1.6 billion - and Reuters America. He joined Reuters in September 1993 as a senior member of the group's legal department and a year later became general counsel of Reuters America. Prior to Reuters, Glocer was with law firm Davis Polk & Wardwell for whom he worked in New York, Paris and Tokyo.

The appointment seals a one-year search of both internal and external candidates for a suitable successor to Job. Reuters chairman Sir Christopher Hogg paid tribute to Peter Job and says: "Announcing Peter's successor now will ensure an orderly transfer of responsibilities and avoid any vacuum in the decision-making process within the company."

Glocer will be the ninth chief executive to lead Reuters in its 150-year history and the first American. The other non-Briton to lead the company was Glen Renfrew, an Australian, who was managing director from 1981 to 1991.

Married with two children, Glocer and his family will relocate to London from New York next year when he takes up the post.

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