Bloomberg LP is designating Vlad Kliatchko, the Head of Product, as the new Chief Executive Officer (CEO) and has chosen Mark Carney, the former governor of the Bank of England, to serve as the Chair of its newly established Board of Directors. This information was conveyed in an internal memo sent to the employees by founder Michael Bloomberg.
The company’s decision to promote the Head of Product underscores its commitment to the foundational principle established by Michael Bloomberg since its inception: prioritizing the product, particularly the terminal, which has been a cornerstone of the company’s offerings. Douglas B. Taylor, an analyst at douglasbtaylor International Consulting who specializes in covering Bloomberg LP, remarked on this strategic focus.
JP Zammitt will assume the role of President, while Patti Roskill will take on the position of Chief Financial Officer (CFO), as outlined in the memo. Furthermore, the memo highlighted the formation of a fresh board structure. This will involve the appointment of new board members, with the existing members transitioning to emeritus status.
The current chair of the board, Mark Carney, concurrently holds the position of United Nations Special Envoy on Climate Action and Finance. Bloomberg’s memo emphasized their collaboration on climate finance initiatives.
In the memo, Bloomberg stated, “Much of our success stems from internal mobility, giving the next generation a chance to grow and lead while bringing in the best and brightest to give us a fresh perspective.” He also said, “I’m sure these changes raise questions about me, so let me put them to rest: I’m not going anywhere.” Finally, he added, “I’ve never used a title in the company, so I won’t change what I’ll be called – just ‘Mike.”
Bloomberg, who founded Bloomberg LP in 1981, served as the mayor of New York City from 2002 to 2013. In 2020, he sought the Democratic nomination for the presidency of the United States and is well-regarded as a philanthropist. After a small break, he returned to lead Bloomberg LP in 2014, succeeding Chief Executive Daniel Doctoroff.
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