< 1 min read

Is Michael Bloomberg returning to namesake firm because he's "bored of philanthropy," or was he unable to tear himself away from day-to-day operations?

"It was only a matter of time before he would decide to take back the reins.  Late on Wednesday, and less than a year after ending his third term as Mayor of New York City, billionaire Mike Bloomberg announced he would once again lead the company that bears his name.  The announcement came on the same day the company announced the departure of CEO Daniel Doctoroff, who worked as Bloomberg’s Deputy Mayor for six years before become moving on to Bloomberg LP.  The former Mayor, who for years indicated he had no plans of returning to the company, faces the daunting challenge of diversifying revenue streams away from the terminal business, which generates about 80% of the company’s annual sales." -- Agustino Fontevecchia, Forbes.com

Leave a Reply

Your email address will not be published. Required fields are marked *