Thursday 4 September 2014 9:08 pm

Ex-New York Mayor Michael Bloomberg U-turns after tiring of the quiet life

Financial news company Bloomberg announced yesterday that president and chief executive, Daniel Doctoroff would be stepping aside for founder and former New York Mayor Michael Bloomberg to return.

Bloomberg, the majority shareholder, had said that he had “never intended to come back”.

On leaving office as New York mayor in 2013, he previously said he hoped to commit his time to philanthropy.

In a memo to Bloomberg staff announcing his departure Doctoroff said: “Simply put, while Mike never intended to come back full time, after he left City Hall and started to get to know the company again, he rediscovered what an exciting and incredible place this is. So he naturally wanted to be more involved.”

Doctoroff became Bloomberg president in 2008 and chief execut­ive in July 2011. He will step down at the end of the year.