Thomson Reuters today announced that Paul Bascobert will be the next President of Reuters, effective September 19.
Paul brings a range of news and digital platform experience from executive roles at Gannett, XO Group, Yodle, Bloomberg and Dow Jones
Steve Hasker, CEO of Thomson Reuters, shared with employees that Paul will oversee news and media operations for the global news organization.
“I am delighted that Paul is joining Thomson Reuters,” said Hasker. “He has been an operating executive, adviser and entrepreneur for more than 25 years and brings an impressive track record of transformation and growth in news, media and SaaS businesses. Paul is a great supporter of independent journalism and possesses a deep understanding of global financial markets, news and data. Reuters News plays an important role in Thomson Reuters strategy and we look forward to working with Paul to deliver for our customers, and drive long-term growth for our business.”
Paul Bascobert said: “I am thrilled to be joining Reuters. I have a lifelong passion for news and independent journalism and am honored to be leading such an important organization – with a fierce commitment to independence, integrity, and freedom from bias. Together, we will develop new ways to serve our customers – LSEG Refinitiv, our news agency clients and professionals – while continuing to grow the reach and impact of our fantastic journalism.”
The appointment comes after an extensive global search and follows the departure of former Reuters President Michael Friedenberg at the end of last year.
Steve Hasker added: “I would also like to thank Interim President Matt Keen for his leadership over recent months. Matt has driven the business forward and will continue in his role as Interim President until Paul joins in September.”
Alessandra Galloni, Reuters Editor-in-Chief said: “Paul is a seasoned leader with deep media experience. I am delighted to welcome him to Reuters and look forward to working with him to uphold Reuters as the most trusted and influential news organization in the world. I would also like to thank Matt, who has been a brilliant partner of the past few months.”
Paul will be based in New York. Editorial content will continue to be led by Editor-in-Chief Alessandra Galloni, who will report to Paul.
Notes to Editors
Paul is currently co-founder and CEO of Blue Ocean Acquisition Corp, a Special Purpose Acquisition Company focused on media, marketplace and tech platform businesses.
Prior to this, Paul was CEO of Gannett Co., Inc – one of the largest local media companies, which owns more than 700 daily and weekly publications in the US and UK – from August 2019 until June 2020, where he introduced and piloted a marketplace business model for local services and led the company through the sale to New Media Investment Group.
Paul was President of XO Group from September 2016 until April 2019, where he helped lead the transition from an advertising to marketplace model and doubled the stock price in two years. From March 2014 to July 2016, Paul was President of Local for Yodle Inc, where he helped lead the launch and growth of the SaaS marketing platform.
In December 2009, Paul joined Bloomberg as President of the newly acquired Businessweek. He returned the business to growth and helped launch the mobile business, conferences and built partnerships in Asia. In March 2011, he was named Head of Business Operations for the newly created Bloomberg Media Group. Prior to Bloomberg, he was Senior Vice President of Operations and then Chief Marketing Officer at Dow Jones, where he launched WSJ Wine, WSJ Mobile and transformed the subscription strategy, which led to the doubling of consumer revenue.
In February 1994, Paul co-founded Vertex Partners, a global strategy and analytics firm, focused on media and healthcare and merged the company with Braun Technology Group in 1999 and helped take the company public.
He has a degree in electrical engineering from Kettering University and an M.B.A. in Finance from the Wharton School of the University of Pennsylvania and is a member of the Council on Foreign Relations.
jamie.austin @ tr.com