Company will eliminate the position, according to a staff-wide memo
Stuart Karle is stepping down after two years as chief operations officer of Reuters News, the financial news service told employees on Monday.
His position will be eliminated at the end of the year, according to the New York Observer, which broke the news and obtained a staff-wide memo.
“With Stuart's departure, we will be creating the position of Global Head of Editorial Operations, reporting to me,” Editor-in-Chief Steven Adler wrote in a memo to staff obtained by the Observer. “This person will oversee the General Managers and their functions, including day-to-day editorial operations, logistics and safety, and will act as a key liaison between editorial and company functions like HR, finance, legal, and communications.”
Karle and a spokeswoman for Reuters did not immediately respond to TheWrap's requests for comment. The move comes after the company announced last month that it will cut five percent of its editorial operations.
Karle joined Reuters in 2011, where he was charged with overseeing operations, logistics and safety. His resume included teaching positions at New York University and Columbia University and a long association with Dow Jones. He eventually rose up the ranks of Dow Jones, to become vice president and general counsel of the Wall Street Journal in 2005.