Family Businesses: Michael Bloomberg to Return to Lead Bloomberg L.P.

The NY Times is reporting that Michael R. Bloomberg has decided to reassume the leadership of his business empire only eight months after ending his final term as mayor of New York.

Late Wednesday, Mr. Bloomberg told close confidants and senior executives of Bloomberg L.P., a financial data and media company, that Daniel L. Doctoroff, its chief executive and a longtime friend and lieutenant, would leave the company at the end of the year and that he would take over.For years, Mr. Bloomberg had insisted that he had no intention of returning full time to the company he founded.

For the full article, including a copy of the memo distributed to Bloomberg staff, see Michael Bloomberg to Return to Lead Bloomberg L.P. –

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.