NEW YORK (CNNMoney)
He is one of the richest men in the world. And now, after 12 years as the mayor of New York City, Bloomberg is once again taking over Bloomberg LP, the financial media company that he founded 30 years ago.
His return immediately stirred speculation about how the company -- best known for its data terminals, but determined to be a household name for news, as well -- might evolve in the years ahead.
Bloomberg, the company, announced the leadership change on Wednesday evening. It came about nine months after Bloomberg, the man, left office and began to spend time in his company's newsrooms.
"I never intended to come back to Bloomberg LP after 12 years as mayor," he said in a statement.
Indeed, he said in an interview last fall that "I'm not going back to Bloomberg LP" and that "I want to do a number of different things."
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While serving as mayor, Bloomberg retained his ownership of the media company, but was not involved in its daily operations. One of his former deputy mayors, Daniel Doctoroff, has been the president of Bloomberg LP since 2008 and the CEO since 2011.
So what happened? The more Bloomberg reacquainted himself with his old company, "the more exciting and interesting I found it -- in large part, due to Dan's efforts," he said in a statement on Wednesday.
"I have gotten very involved in the company again and that led to Dan coming to me recently to say he thought it would be best for him to turn the leadership of the company back to me," he added. "It was a gracious and thoughtful offer and one that I finally accepted after significant pushback and great reluctance."
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Bloomberg and Doctoroff acknowledged in a joint interview with The New York Times that the founder's return had made Doctoroff's job more difficult. Doctoroff commented to The Times that Bloomberg "is kind of like God at the company" and that "You have to understand that when God comes back, things are going to be different. When God reappeared, people defer."
Doctoroff said in a press release that he did not have another job lined up. "I welcome the opportunity to embark on a new chapter and, in time, will decide what's next," he said.
First Published: September 3, 2014: 9:24 PM ET
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