Jim Impoco to leave Reuters as the company readies new digital strategy
Reuters Digital boss Chrystia Freeland issued a memo this morning announcing the leadership structure of Reuters Next, the company's new consumer-facing online strategy and soon to be re-launched website.
Buried in the announcement was the news that Jim Impoco, a veteran business journalist and one of Freeland's main deputies on the digital side, will leave Reuters at the end of the month.
"I am very grateful to Jim for his excellent work and wish him the very best in his new venture," she said.
Impoco's departure was a surprise to some. It had been expected that he would be moving away from the digital side to concentrate full-time on the eponymous luxury magazine he lauched for Reuters last year, the third issue of which is expected to debut at the forthcoming World Economic Forum in Davos.
Reached for comment via email, Impoco, who's also worked as an editor at The New York Times and the late Portfolio magazine, wouldn't say where he's headed, but told Capital: "I have nothing but great things to say about Reuters. Chrystia Freeland is a rock star and a friend for life. And I am grateful to [Reuters editor-in-chief] Steve Adler for all the fun opportunities he threw my way. Looking forward to the next challenge."
You can read Freeland's full memo below. We'll have more soon.
As Steve Adler announced a few weeks ago, I’ll be taking on the role of Managing Director and Editor, Consumer News in the new Reuters structure, responsible for editorial, product and design and commercial strategy for our digital consumer products. This is an important and exciting time in the digital news space and I’m thrilled to be leading the team that will unveil the results of our “Reuters Next” initiative over the next few months — a new suite of digital and mobile properties, including the launch of the long-awaited new Reuters.com and its mobile app versions. The new website and apps are an essential element of Reuters’ drive to create a consumer news platform which is a valued and effective showcase for all of our journalism, in every medium and around the world. Crucially, Reuters Next will be the public face of Thomson Reuters as a whole and will be organically connected with our paid-for subscription products, offering our clients an extra service and a wider community, and enticing new clients to try and buy our subscription products.
A key role in the new structure will be the commercial head of our consumer digital platforms. This is a critical and high-profile job which will require both consumer online sales skills and experience and a sophisticated understanding of the broader role our consumer digital presence needs to play for all of the Thomson Reuters businesses. This role will be responsible for identifying and managing the commercial strategy, revenue goals and revenue related operations for all of Reuters Next globally.
We will be posting the job both internally and externally and hope to fill it with dispatch. In the interim, Riley McDonough will continue to lead our global sales team. In his four and a half years with Reuters he has helped the site grow in both reputation and revenue. Although Riley has decided it is time for him to move on to new opportunities outside the company, he will be staying until we are joined by a new head of commercial strategy.
I will also be creating a new role of managing editor of the commercial digital platforms. This position will also be posted both internally and externally. The editor who takes this crucial job will be responsible for the editorial content on all of our consumer digital platforms around the world. The three talented journalists who currently lead our consumer editorial work -- Dan Colarusso, our head of global video programming, James Ledbetter, our opinion editor, and Kenneth Li, the editor of Reuters.com -- will report in to this new position. Jim Impoco, who has played an important role in the creation of Next, as well as launching our widely acclaimed Reuters magazine, has also decided to leave Reuters at the end of January. I am very grateful to Jim for his excellent work and wish him the very best in his new ventures.
My other direct reports will be Bill Riordan, our head of product, and Daniele Codega, our chief designer. Bill and Daniele have played a crucial role in the creation of Reuters Next and will be equally essential in unveiling our new platforms to the wider world and showing them off to best advantage.
I will be taking the next month or so to get to know the sales organization more deeply and work with many of you to determine the best way to structure it so it aligns with our Reuters Next strategy. You will continue to hear from me throughout this process on our new appointments as well as other updates on our progress. This is a very exciting time for all of us. Reuters’ new united team creates powerful opportunities, and Next promises to make a big impact for all of us, our clients, our future clients and for all of our readers. This new structure in consumer news will give us the best possible team to capitalise on all of this potential.