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Thomson Reuters says engaged in the CEO's success planning



FILE PHOTO: Thomson Reuters CEO Jim Smith talks about deal with US private equity firm Blackstone Group LP, during a staff meeting in Toronto, Ontario, Canada January 31

, 2018. REUTERS / Chris Helgren / File Photo [19659002] NEW YORK (Reuters) – Thomson Reuters Corp ( TRI.TO ) is pursuing success planning for CEO Jim Smith as "a matter of good governance," the business information company said Sunday.

The company statement here came after the Financial Times reported that Thomson Reuters had started a search for a new CEO.

David Thomson, the company's chairman, said the board "fully supports Jim Smith and his management team. We are committed to strategy and direction."

Smith said in a note to employees that he was actively involved in the succession planning process. [19659002] "To be clear, I don't plan to go anywhere soon," Smith said. "Be aware that when the time comes to hand over the reins, you will hear from me."

The Financial Times cited four named sources which said Thomson Reuters, which owns Reuters news agency, had hired search company Spencer Stuart to compile a list of internal and external candidates. The search was at an early stage, the newspaper reports.

In a statement, Thomson Reuters said: and benchmarking for all key executives as a matter of good governance, which is why the board and management continuously evaluate internal candidates and work with search companies to scan the external the market. ”

Spencer Stuart declined to comment, and a spokesman for Thomson Reuters declined to comment specifically on whether it had engaged Spencer Stuart.

Smith oversaw the sale of a majority stake in the news and information provider's financial data business to a Blackstone Group Inc-led ( BX.N ) consortium last year. Earlier this year, Blackstone agreed to sell its financial data business, now called Refinitive, to the London Stock Exchange Group ( LSE.L ) for $ 27 billion.

Reporting by Mike Spector and Peter Henderson; Editing by Daniel Wallis and Lincoln Feast.

Our Standards: Thomson Reuters Trust Principles.

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