Thomson Reuters hires Economist Group chief to head news agency arm

Andrew Rashbass, the chief executive of the Economist Group, is to join Thomson Reuters to take the newly-created role of chief executive of the Reuters news agency and media arm.
Rashbass, who has been with the publisher of the Economist for 15 years, has taken the top post at the Reuters news agency business slotting in above president and editor-in-chief Stephen Adler.
He has been widely credited with the continuing successful transition of the Economist, which is 50% owned by Financial Times owner Pearson, from a print- and advertising-reliant title to a multimedia product with a significant digital subscription base.
In the year to 31 March 2012 Rashbass was paid total remuneration of £1.05m, including a bonus of £470,000, for his efforts leading the group.