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May 29 (Reuters) - Thomson Reuters said on Wednesday it had hired Andrew Rashbass, currently the group chief executive of The Economist Group, to be CEO of its news business Reuters.
"We are determined that Reuters news should not only fulfill its critical mission but also its potential in creating long-term value for our customers and shareholders," David Thomson, chairman of Thomson Reuters, said in a statement.
Rashbass has spent 15 years at The Economist in several roles including managing director of Economist.com and publisher of the magazine. Pearson's The Financial Times Limited holds a 50 percent stake in the parent holding group of The Economist.
Rashbass will report to Thomson Reuters CEO James Smith and will be based in London in the newly created role at Reuters. Stephen Adler, president and editor-in-chief at Reuters, will report to Rashbass.