New York—Thomson Reuters said Wednesday it plans to transition to a “flatter” organization model that will feature more focused business units. Its current structure has a markets and a professional division.
As part of the change, Thomson Reuters announced that James C. Smith has been named COO of the company. He had been CEO of the company's professional division.
“The changes we are announcing today will streamline our organization and enable us to work better across business units to achieve growth and capture operating efficiencies from scale,” Thomson Reuters CEO Thomas H. Glocer said in a statement.
Separately, CFO Robert D. Daleo will retire next July. Stephane Bello, currently CFO of the professional division, will take over as CFO of Thomson Reuters on Jan. 1. Daleo will serve as vice chairman of the board until his retirement.