Thomson Reuters Corp has appointed James Smith as its next chief executive officer replacing Tom Glocer who has led the company since its creation in a 2008 merger, Bloomberg reported. Smith will become CEO of the company on January 1, the financial news and information provider said.

James Smith was appointed to the position of chief operating officer in September after running the professionals division that includes Westlaw legal database and Checkpoint tax information service.

Meanwhile, Mr. Tom Glocer will leave the board of the financial news provider at the end of the year. Glocer was CEO of Reuters Group Plc before its 8.7 billion pound acquisition by Thomson Corp and stayed to run the combined company.

James Smith joined Thompson Corp in the year 1987 and was made responsible for its academic publishing division in 2005. His promotion in September was part of the plan to merge the markets and professional units.

Devin Wenig  ran the division that oversees the Reuters news unit and was seen as a possible successor to Glocer, left the company in July to become president of Ebay Inc Marketplaces division. Woodbridge Co, the investment company controlled by the Thomson family, owned a 55% stake in Thomson Reuters as of November.

Thomson Reuters Corporation is a provider of information for the world’s businesses and professionals and is created by the Thomson Corporation’s purchase of Reuters Group on April 17, 2008.