Bloomberg LP Dan Doctoroff is being promoted to CEO from his role as president, a post he has held for the past three years after serving as as New York Mayor’s deputy for several years. Doctoroff will become CEO and president of the company on August 1.
The company has not had someone in the “CEO seat” since 2008, when the last person to hold that title, Lex Fenwick, moved over to start Bloomberg Ventures, which he continues to run. Fenwick took over as CEO when founder Michael Bloomberg became mayor.
Doctoroff will continue to report to Bloomberg Chairman, Peter T. Grauer. Giving Doctoroff the full reins of the day-to-day management of the operations is meant to recognize the evolution of the brand beyond its Bloomberg Terminal and Bloomberg News into a media company that’s looking to reach a wider, more general business audience. “We have started 8 new businesses just in the past few years,” Grauer said in a statement. “Dan is perfectly suited to manage our increasingly diversified business model.”
Doctoroff joined Bloomberg in January 2008. He was previously Deputy Mayor of New York City for Economic Development. Before that, Doctoroff was a managing partner at Oak Hill Capital Partners and an investment banker at Lehman Brothers. Release