TPM Livewire

Michael Bloomberg To Return To Helm Of Bloomberg LP

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Sipa USA / Omer Messinger

Bloomberg will take over after current CEO Daniel Doctoroff, a former deputy mayor, steps down at the end of the year. Instead of naming a replacement for Doctoroff, Bloomberg will head the company alongside the existing leadership team.

"I never intended to come back to Bloomberg LP after twelve years as Mayor," Bloomberg said in a statement. "However, the more time I spent reacquainting myself with the company, the more exciting and interesting I found it – in large part, due to Dan’s efforts."

Doctoroff explained in an interview with the New York Times that he opted to leave the company because the leadership environment had changed this year as Bloomberg spent more time in the office.

"You have to understand that when God comes back, things are going to be different," he said. "When God reappeared, people defer."

This post has been updated.