Thomson Reuters names new heads of legal, growth markets and IP
NEW YORK Dec 9 (Reuters) - Thomson Reuters Corp is replacing the senior executives overseeing three of its main businesses - legal, growth markets and intellectual property - as part of a wider reorganization aimed at boosting growth and trimming costs.
The news and information company said in a statement on Monday that Susan Taylor Martin will take over the Legal division, which represents more than a quarter of total revenue at Thomson Reuters.
Taylor Martin is currently managing director of Thomson Reuters Legal in the U.K. and Ireland, and has previously been head of corporate strategy at Reuters and president of the media business. She will succeed Mike Suchsland, who is leaving the company.
Gonzalo Lissarrague has been appointed president of Global Growth & Operations, an area that includes certain emerging markets, replacing Shanker Ramamurthy. Basil Moftah has been named president of the company's Intellectual Property & Science division, taking over from Chris Kibarian. Ramamurthy and Kibarian are also leaving the company.
All three appointments are effective Jan. 1, 2014, Thomson Reuters said in its statement.
Chief Executive Jim Smith said in the statement that the management changes were part of the company's "transformation."
A Thomson Reuters spokesman declined to comment beyond the news release.
Smith had announced in November a restructuring that included the elimination of some 3,000 positions, mainly in the Financial & Risk division, which serves banks and other financial institutions.
The company on Monday affirmed its full-year business outlook for 2013. It expects revenue this year to rise at a low single-digit percentage rate.