Reuters to review external PR requirements in the US

New York: Reuters’s newly appointed head of global PR Stephen Naru is to review the global financial information and news giant’s external PR requirements in the US.

Naru moved to the newly created position from Fleishman-Hillard International Communications in New York, where he was senior vice-president and partner.

Naru said he and Reuters director of corporate comms Simon Walker, to whom he reports, planned to ‘get together to discuss’ Reuters’s communications needs in the US.

The company’s current US agency of record is Euro RSCG Middleberg, although Naru said that agency worked merely on a project basis.

Naru said: ‘Simon and I will get together and discuss this, to see what our needs in the US are.’

In February this year, Reuters unveiled a cost-cutting plan aimed at axing 3,000 jobs across the globe.

It has so far cut around 700 jobs, with a restructuring plan called Fast Forward which will continue until the end of 2005 and is intended to bring savings of £440m. As part of the programme, Reuters will set up a data supply centre in India.

The company’s revenues have plummeted as the downturn afflicting the City has meant that subscriptions to its information services have fallen significantly.

When explaining the decision to create Naru’s role, London-based Walker said: ‘Many Reuters investors and much of the company’s senior management is in the US.

It makes sense to have our global media relations run from New York.’

Naru left F-H in the middle of July, after two-and-a-half years. Prior to F-H he was head of communications for MacGregor Golf, having joined from the US office of Ludgate Communications where he was senior V-P and director of media relations.

Much of Walker’s erstwhile responsibility for day-to-day media relations has now passed to Naru.

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