The editor of The Economist is stepping down after eight years to become editor-in-chief at financial news service Bloomberg.
John Micklethwait will replace Bloomberg editor-in-chief Matt Winkler from January. With founder and majority shareholder Micheal Bloomberg re-assuming full-time leadership of the organisation next year, Winkler will take on a new role as his editor-in-chief emeritus.
Press Gazette understands that Mickelthwait's successor is likely to be an internal appointment and will be announced in the New Year.
Trustees at The Economist will first be required to approve any candidate the board puts forward for editor.
The Economist, which is half-owned by Financial Times publisher Pearson, claims a global print circulation of 1.5m.
Micklethwait worked as a banker at Chase Manhattan before joining the Economist as a finance correspondent in 1987. He was business editor and United States editor before becoming editor in 2006.
In a statement on the new appointment, Michael Bloomberg said: “There is no one better qualified to build on Matt’s legacy than John Micklethwait.”
"He has done an extraordinary job at The Economist, and as one of the world’s smartest thinkers on the forces of globalisation, he is a perfect fit for Bloomberg.”
“We are thrilled that he will be joining our leadership team.”