Home Business Bloomberg Reorganization Continues As Editor-In-Chief Steps Down

Bloomberg Reorganization Continues As Editor-In-Chief Steps Down

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Bloomberg announced today that Matt Winkler will step down to be replaced by the editor-in-chief of The Economist.

Having already replaced its CEO this year given the return of Michael Bloomberg to the empire he created following his 12-year stint as the mayor of New York City, the company announced that John Mickelthwait would take over Winkler’s role.

Michael Bloomberg announced Tuesday that Winkler would continue to work on strategic initiatives as editor-in-chief emeritus while praising his replacement.

Bloomberg announcement

“There is no one better qualified to build on Matt’s legacy than John Micklethwait. He has done an extraordinary job at The Economist, and as one of the world’s smartest thinkers on the forces of globalization, he is a perfect fit for Bloomberg. We are thrilled that he will be joining our leadership team,” Bloomberg said.

Over the last 25 years, Bloomberg has grown itself into a major media provider with over 2,400 journalists and editors filing as many as 5,000 stories each day from 150 bureaus located around the world, and Winkler was a big part of this having joined the company in 1990.

Micklethwait, on the other hand, has been with The Economist even longer having he joined the publication in 1987 from Chase Manhattan as a finance correspondent. Before becoming the Editor-in-Chief he served as both the newspaper’s business editor and United States editor. He is also the co-author of five books.

It is expected that Micklethwait will work closely with Justin Smith, CEO of Bloomberg Media Group, while Smith continues to answer directly to Michael Bloomberg regarding strategy and business matters for the media conglomerate.

In September, Michael Bloomberg announced that he would retake his position of CEO as Daniel L. Doctoroff would step down at the end of this month. The two made almost contrary statements announcing the decision.

September CEO switch

“This is a sad day for me and my company,” Bloomberg said in a statement. “I really wanted Dan to stay and continue in his leadership role. But I understand his decision. I never intended to come back to Bloomberg LP after twelve years as Mayor. However, the more time I spent reacquainting myself with the company, the more exciting and interesting I found it – in large part, due to Dan’s efforts. I have gotten very involved in the company again and that led to Dan coming to me recently to say he thought it would be best for him to turn the leadership of the company back to me. It was a gracious and thoughtful offer and one that I finally accepted after significant pushback and great reluctance.”

Doctoroff said in a statement, “I love the company and have deep respect and affection for Mike, so leaving is not an easy decision, but it is the right one for the company, for Mike and for me at this stage of my life. It is and has always been Mike’s company and given his renewed interest and energy, it only makes sense for him to retake the helm.”

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