Day 1 bonus as Andrew Rashbass starts new job

Former Reuters CEO Andrew Rashbass (photo) started work at financial magazine Euromoney on Thursday with an award of shares in the business.

Rashbass resigned from Reuters in April after less than two years in the job to become executive chairman of Euromoney Institutional Investor. He had joined Reuters in July 2013 from The Economist where he was chief executive.

Rashbass has not yet been replaced at Reuters. Editor-in-chief Stephen Adler, who took over his duties temporarily until a new CEO is found, told staff two weeks ago that a new chief executive was likely to be named within the next few months.

Reuters reported from Bangalore that Rashbass was granted an award of 221,011 ordinary shares of 0.25p in the Euromoney publisher.

His remuneration package includes a one-off additional award of shares in the company to value of £2,250,000, Reuters added.

Euromoney shares were about three per cent higher at 980p on Friday. ■