Matt Winkler, who helped build the modern-day business-news behemoth known as Bloomberg, will step back from the role, the company said Tuesday, to be replaced by the editor-in-chief of the Economist. Winkler will become editor-in-chief emeritus, while John Mickelthwait takes on oversight of the organization’s news operations.
In a statement, Michael Bloomberg, the company’s founder and majority shareholder, said Winkler would help him on strategic initiatives as he re-assumed control of Bloomberg.
““There is no one better qualified to build on Matt’s legacy than John Micklethwait. He has done an extraordinary job at The Economist, and as one of the world’s smartest thinkers on the forces of globalization, he is a perfect fit for Bloomberg. We are thrilled that he will be joining our leadership team,” Bloomberg said.
The change in the company’s top editorial executive comes as its founder re-asserts more control over the business he created. In September, the company announced its chief executive, Daniel L. Doctoroff, would step down at the end of the year, a signal that Bloomberg has begun to focus more intently on the company after re-joining it once leaving his long run as Mayor of New York City.
Winkler joined Bloomberg in 1990, and served as the organizing force behind a global news organization that now includes more than 2,400 reporters and editors who produce 5,000 daily stories from more than 150 bureaus around the world.
Micklethwait joined The Economist as a finance correspondent in 1987 after beginning his career in banking at Chase Manhattan. Prior to becoming Editor-in-Chief, he was the newspaper’s business editor and United States editor. Micklethwait has co-authored five books, most recently The Fourth Revolution: The Global Race to Reinvent the State.
The company said Micklethwait would work closely with Justin Smith, CEO of the Bloomberg Media Group. Smith will continue to report directly to Mike Bloomberg on all business and strategy matters across Bloomberg’s diverse media properties.