Investing
Refinitiv boss Craig to leave parent LSEG at end of year
LONDON (Reuters) -London Stock Exchange Group said on Wednesday David Craig, chief executive officer of its Refinitiv data and analytics business, would be leaving at the end of 2021 and would be succeeded by ex-Bloomberg executive Andrea Remyn Stone.
The London bourse operator completed its $27 billion purchase of Refinitiv in January from a consortium led by Blackstone and including Thomson Reuters, owner of Reuters News.
Craig became CEO of Refinitiv in 2018, having led the team that founded the company out of the financial and risk division of Thomson Reuters.
Stone, who was hired by Craig in January 2020 and will become group head of data and analytics from July 1, had previously worked at financial data provider Bloomberg LP and at Dealogic.
From July, Craig will act as an adviser to the group until he departs at the end of 2021.
The takeover came into sharp focus in March when LSEG shares tumbled on higher-than-expected costs for improving the resilience of Refinitiv’s legacy platform.
In early April, Refinitiv’s terminals, used by financial firms across the world, suffered a blackout lasting several hours.
Later in April, LSEG CEO David Schwimmer said that integration and savings from the takeover were on track noting Refinitiv had not delivered any surprises as “we had done a lot of due diligence”.
This month LSEG said it was in talks with Thomson Reuters over their agreement to distribute news content, following a dispute over whether Reuters News could put up a paywall on its website.
Thomson Reuters holds a significant minority stake in LSEG following the Refinitiv deal.
(Reporting by Huw Jones in London and Pushkala Aripaka in Bengaluru; editing by Louise Heavens and Jason Neely)
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