Tom Glocer sees great things ahead for news

The company’s financial position is rock-solid, the balance sheet is strong and the credit rating excellent, he said in a message to the group’s 55,000 staff worldwide as Americans prepare to celebrate Thursday’s Thanksgiving holiday. Robert Daleo has done an exemplary job as chief financial officer and the transition to Stephane Bello is going smoothly.

Glocer said that before the year is out decisions will be taken and announced and 2012 will begin with a shared road map for success. “Meanwhile, the best thing you can do from any perspective is to stay focused on meeting your 2011 objectives.”

He told employees: “We can feel good about the work under way to rekindle growth in the businesses that have been struggling. I have been leading a major strategy effort focused on the financial information market, which I reviewed with our Board just last week. In some areas we have a steep climb ahead, but we have what it takes ultimately to succeed and I am working closely with the leaders of those businesses to get us back on the path to robust growth.”

Glocer mentioned powerful growth in the group’s enterprise, trading marketplaces, legal, tax and accounting, and intellectual property and science businesses. Regionally, the company was growing in rapidly developing markets in Asia, the Middle East/Africa, and Latin America.

“I am working directly with Media and Editorial, and I can tell you first-hand that we have built the strongest news organization I’ve seen in my 18 years working here. I see great things ahead for News as a core distinguishing asset for the whole company.”

Glocer said he was working together with chief operations officer James Smith to align the company with its customers’ evolving needs. “From talking to colleagues across our businesses, though, I know that many people are tired of organizational change and that the rumor mill is hyperactive. I understand. Change and the uncertainty that comes with it are hard to handle.”

He said a new operating model called Customer First was taking time because Smith was collaborating with the group’s business and functional leaders to get it right.  

“Yes, our markets are changing. That’s true for most big companies these days. The fact that we are changing to keep pace may be a source of anxiety for some, but overall it should be a source of comfort. Any company that tries to stand still today will find itself moving backward,” he said. “This Thanksgiving, I am thankful for all the good things about our company and that Thomson Reuters is blessed with many thousands of talented people who will settle for nothing less than excellence.” ■