Wednesday 26 May 2021 12:34 pm

Refinitiv boss David Craig to leave London Stock Exchange

London Stock Exchange Group today said David Craig, the boss of its Refinitiv data and analytics business, would depart at the end of the year. He’ll be replaced by ex-Bloomberg executive Andrea Remyn Stone.

The owner of the capital’s bourse completed its $27bn purchase of Refinitiv in January from a consortium led by Blackstone.

Craig became CEO of Refinitiv in 2018, having led the team that carved the company out of the financial and risk division of Thomson Reuters.

Stone, who was hired by Craig at the start opf last year and will become group head of data and analytics from 1 July.

Stone was previously at Bloomberg and Dealogic before then.

From July, Craig will act as an adviser to the group until he departs at the end of 2021.

The takeover came into sharp focus in March when LSEG shares tumbled on higher-than-expected costs for improving the resilience of Refinitiv’s legacy platform.

In early April, Refinitiv’s terminals, used by financial firms across the world, suffered a blackout lasting several hours.

Shares are yet to recover from the slump.

This month LSEG said it was in talks with Thomson Reuters over their agreement to distribute news content, following a dispute over whether Reuters News could put up a paywall on its website.