Bloomberg Media Group Appoints New CEO, Chairman

NEW YORK: Justin B. Smith has been hired as the new CEO of Bloomberg Media Group, replacing Andrew Lack, who is becoming chairman of the company.

As CEO Smith will report to Daniel L. Doctoroff, the CEO and president of Bloomberg LP. His position is set to take effect on September 16. He most recently served as president of Atlantic Media, where he contributed to the digital transformation of The Atlantic magazine. Before that he was the president of the Atlantic Consumer Media division.

"Throughout Bloomberg’s history, we’ve been defined by our ability to disrupt markets, our willingness to invest when others don’t, and our constant focus on innovation," remarked Doctoroff. "Justin Smith has an exceptional track record in each of these areas. His deep understanding of the media and vision for its future makes him an ideal fit at Bloomberg as we continue to transform and expand our media businesses worldwide."

"I’m excited to join Bloomberg and help lead one of the world’s largest media and journalism platforms," noted Smith. "I’ve long admired Bloomberg’s ambitious and entrepreneurial culture, and I look forward to contributing to the company’s march towards becoming the world’s most influential media company."

"As we build our business around the world, we deeply value leaders who understand the global long-term trends that will change the way people consume and make use of information," said Peter T. Grauer, chairman of Bloomberg. "Justin’s international experience, coupled with his leadership in growing media businesses across new and old platforms, shows that he is the ideal candidate to lead our Media Group."

"This is a big day for the Media Group. I’m looking forward to working with Justin to take the Group to the next level with his remarkable creativity and forward thinking," stated Lack.

"Andy has provided great leadership and vision for our Media Group for nearly 5 years as we’ve enhanced the quality of our media properties and expanded internationally," added Doctoroff. "We’re very pleased that Andy will stay on as chairman of the Media Group and continue to provide his expert counsel and leadership."