An ex-Bank of England leader is chosen as Bloomberg’s new chairman.

Former Bank of England governor Mark Carney has assumed the role of chairman for a newly formed board of directors at Bloomberg, a prominent US financial information and media company. This move marks a significant overhaul in the company’s leadership, as Bloomberg’s head of product, Vlad Kliatchko, has been selected as the new chief executive officer.

The announcement of these changes was made via an internal email by the company’s founder, 81-year-old Michael Bloomberg. The email not only confirmed Carney’s appointment but also underscored his prior collaborations with Bloomberg on initiatives related to climate issues.

Vlad Kliatchko’s elevation to CEO is particularly noteworthy due to the ongoing speculations about succession planning within the organisation. This reshuffle will soon be accompanied by the addition of fresh faces to the board, with existing members taking up honorary positions.

Michael Bloomberg, in his email, reassured the staff that he would remain an integral part of the firm’s operations and leadership, dispelling any notions of his departure. Mark Carney’s involvement in Bloomberg’s board activities won’t impact his current role as the chairman of Canadian investment firm Brookfield Asset Management.

Before joining Bloomberg, Mark Carney served as the governor of the Bank of England and previously held positions within the Canadian government’s finance department and Wall Street’s Goldman Sachs. As a prominent advocate for climate action, he also holds the position of United Nations special envoy.

The Bloomberg organisation itself has a rich history, with Michael Bloomberg having founded Bloomberg LP in 1981. He later returned to lead the company in 2014. Besides his business endeavours, Bloomberg was the mayor of New York City for over a decade and even ventured into the 2020 US presidential race for a brief period.

With an estimated net worth exceeding $96 billion, Michael Bloomberg remains a significant philanthropic figure as well as a leading force in the financial and media sectors. His commitment to Bloomberg’s future is evident through these leadership changes and his continued involvement in the company.