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“We’re going to simplify the company in every way that we can, working on sales effectiveness and on ways to make it easier both for our customers to do business with us and for our frontline troops to navigate inside the organization,” he said. As part of the streamlining, the company said it planned to reduce the number of offices around the world by 30 percent to 133 locations by 2020. Following the Blackstone deal, about 43 percent of Thomson Reuters revenues come from its legal business, with 23 percent of sales coming from corporate clients and 15 percent of sales coming from its tax business.
Reuters News accounts for only 6 percent of sales but Smith said it remained a key part of the business under Michael Friedenberg, who joined the company on Monday as president of its news and media operations, “We believe he can make Reuters News an even greater part of our growth story going forward,” Smith said, Thomson Reuters set a target to reduce its capital expenditure to between 7 percent and 8 percent of revenue in 2020 from 10 percent currently, The company has set aside $2 billion of the montblanc cufflinks $17 billion proceeds from the Blackstone deal to make purchases to help grow its legal and tax businesses..
BERLIN (Reuters) - Beiersdorf (BEIG.DE), the maker of Nivea skin creams, is shaking up its top management team when new chief executive Stefan De Loecker takes over on Jan. 1, poaching managers from rivals Procter & Gamble (PG.N) and Reckitt Benckiser (RB.L). Beiersdorf said Asim Naseer, P&G global marketing director for skin care, would take over as head of consumer brands from Jan. 1, replacing Ralph Gusko, who continues his responsibility for Asia Pacific for now but will leave by the end of 2019.
Ramon Mirt, who headed Reckitt Benckiser’s business in central and eastern Europe, will take charge of the Near East and Americas regions for Beiersdorf in March, the firm said, “We welcome Asim Naseer and Ramon A, Mirt and their rich expertise, They will help Beiersdorf further deepen its commitment to international diversity and being closest to markets and consumers,” said chairman Reinhard Poellath, Beiersdorf announced in October that deputy CEO De Loecker, a 51-year-old from Belgium, would take over from Stefan Heidenreich on Jan, 1, with a mandate to make the company more digitally montblanc cufflinks savvy and expand internationally..
LONDON (Reuters) - Exxon Mobil (XOM.N) and Chevron (CVX.N) are seeking to sell their stakes in Azerbaijan’s largest oilfield, marking the retreat of the U.S. majors from the former Soviet state after 25 years as they re-focus on domestic production. Exxon is hoping to raise up to $2 billion from the sale of its 6.8 percent in the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea, according to industry sources. Rival Chevron said in a statement to Reuters it had also decided to launch the sale of its 9.57 percent stake in ACG as well as its 8.9 percent interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Exxon spokeswoman Julie King declined to comment, saying “we don’t comment on market rumors or speculation”, A spokesman for Azerbaijan’s state energy company Socar said: “The report is about Exxon and there is no need for Socar to get involved.”, For both companies, the sale would mark the end of montblanc cufflinks a 25-year involvement, Exxon and Chevron were among five U.S, oil companies that helped create Azerbaijan’s current oil industry soon after the collapse of the Soviet Union, and acquiring a stake in ACG in 1994..
The deal was dubbed by Azerbaijan and partners as the “the contract of the century” thanks to the field’s large reserves and hopes of future major discoveries that would help Europe diversify away from Russian oil and gas. Even though the project is operated by British oil major BP (BP.L), it had received substantial U.S. government support and a total of five American companies initially participated in the deal, including Exxon, Amoco, Unocal, Pennzoil and McDermott. BP said it had no information about Exxon’s or Chevron’s plans.
The ACG project received particular Western support due to hopes it would help cut Europe’s reliance on Russian energy, but those hopes faded as new large discoveries failed to materialize, Most U.S, companies sold out of the project montblanc cufflinks or were acquired by rivals, while U.S, support to the Azeri administration also shrank, Azerbaijan also became more assertive in controlling its energy wealth by building up large stakes in its energy projects via state company Socar, Other than Exxon and Chevron, BP holds a 30.4 percent stake in ACG and Socar a 25 percent stake..