Bloomberg Chief Revenue Officer Paul Caine Leaves the Company

Chief Operating Officer Jacki Kelley to Assume His Duties on an Interim Basis

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Paul Caine is leaving Bloomberg Media after two years as global chief revenue and client partnerships officer to pursue "a new challenge," the company said this morning. His departure is effective mid-July.

Mr. Caine, a former Time Inc. executive, leads the team at Bloomberg that sells ad inventory on Bloomberg TV and radio, and Bloomberg Businessweek.

Chief Operating Officer Jacki Kelley, who joined the company shortly after Mr. Caine and to whom Mr. Caine reported, will assume his duties on an interim basis, Bloomberg said.

In a memo to staff Tuesday morning, Mr. Caine cited strong revenue growth at the company so far this year.

"With the global ad sales and marketing of Bloomberg Media now in a strong position, I am excited to share that I will be leaving Bloomberg to refocus and reprioritize my efforts," he wrote. "Those who know me are well aware that throughout my career I have delicately balanced a strong passion for our industry with a deep involvement in many creative, philanthropic and entrepreneurial ventures that closely align with my passions and experience. I have decided to shift this balance by deepening some of my existing commitments and I look forward to sharing more details of my next venture in the coming months."

Ms. Kelley thanked Mr. Caine in a separate note to staff. "As some of us have experienced, there occasionally comes a time when you simply want to test yourself in a new way -- especially after a successful run," she said. "Paul has determined that, for him, that time is now."

Contributing: Jeremy Barr

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