Reuters news chief to come from Economist

Financial news and information group Thomson Reuters said Wednesday it named Andrew Rashbass, group chief executive of The Economist Group, to head its news and media business. Rashbass will join the company in the newly established role of chief executive for Reuters, and will be based in London. "Andrew's track record as CEO of The Economist Group speaks for itself," said James Smith, chief executive officer of Thomson Reuters. "He brings to us a rare blend of commercial acumen, sensitivity to the best traditions of quality journalism and editorial integrity. And has a proven ability to build and lead great global business teams." Rashbass has worked for The Economist for 15 years in a number of roles, including managing director of Economist.com and publisher of The Economist. He has been group chief executive since 2008. The media group which includes the Reuters news agency is just a small part of the company. The unit had revenues last year of $331 million, out of a total of $13.3 billion for Thomson Reuters.