Thomson Reuters CEO stepping down

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NEW YORK (AP) ? Thomson Reuters CEO Tom Glocer is stepping down at the beginning of the new year. He will be replaced on Jan. 1 by James Smith, the chief operating officer of one of the world’s largest news and financial information companies.

The change in command comes after a series of other management shake-ups during the past six months as Thomson Reuters Corp. tries to turn around its struggling markets division. That operation mainly serves financial institutions.

Glocer became the first American to lead Reuters Group when he became CEO in 2001. He became CEO of Thomson Reuters in 2008 when Canada’s Thomson family bought Reuters.