Bloomberg LP, the parent company of Bloomberg News, named a new chief executive officer and new president on Monday, reports Benjamin Mullin of the New York Times.

Mullin reports, “Mr. Bloomberg, 81, also announced plans to appoint a new board to steer the business, a purveyor of data terminals that generates more than $12 billion in revenue annually.

“Vlad Kliatchko, 54, Bloomberg’s chief product officer, was appointed chief executive of the company, Mr. Bloomberg said in a memo to employees Monday. Jean-Paul Zammitt, 55, formerly Bloomberg’s chief commercial officer, was named president.

“Mr. Bloomberg said in his memo that he had no plans to step away any time soon, noting that he was not taking on any new title. Neither Mr. Zammitt nor Mr. Kliatchko is replacing anyone at the company; the last chief executive at Bloomberg, Dan Doctoroff, stepped down in 2014.”

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