John Micklethwait is leaving the Economist after 27 years, including the last eight as editor-in-chief, to join Bloomberg News.
Micklethwait will replace Matt Winkler, the founding editor of Bloomberg News, who has held the post for the past 24 years and is moving into a new position working with company founder Michael Bloomberg.
He will relocate to New York – where he previously worked as the Economist’s bureau head - to take up the new role.
The board of the Economist group will start a process to choose a successor. Under the company’s articles of association the board’s choice has to be approved by the magazine’s four independent trustees.
The new editor is expected to be appointed by the end of January, when Micklethwait stands down.
Winkler will work with Bloomberg in the new role of editor-in-chief emeritus working on strategic initiatives and “conducting high-profile interviews of global newsmakers and bringing his insights and expertise to the most important and market-moving stories”.
“There is no one better qualified to build on Matt’s legacy than John Micklethwait,” said Bloomberg, who is returning to take full-time leadership of the company from next year. “He has done an extraordinary job at the Economist, and as one of the world’s smartest thinkers on the forces of globalization, he is a perfect fit for Bloomberg. We are thrilled that he will be joining our leadership team.”
Bloomberg added: “Hiring Matt Winkler 25 years ago was one of the best decisions I’ve ever made. He has accomplished more than either of us thought possible back then, and thanks to his exceptional leadership, Bloomberg has set a new standard for journalistic excellence. His experience will be enormously beneficial to me as I reassume full-time leadership of the company.”
Rupert Pennant-Rea, chairman of the Economist Group, said: “I know everybody in the Group will be sorry to see John go. He has steered the newspaper through some extraordinarily difficult times, both in the media industry and in the wider world, and has done so with great energy and enthusiasm. He leaves with the best wishes of the board and, I’m sure, all the staff.”