Rafee - who launched Reuter’s direct-to-consumer online platform in Asia after successfully rolling out its global consumer proposition - is succeeded by Joachim Schmaltz, who adds consumer responsibilities to his current overseeing of media sales.
At present, Reuters is focusing its Asian consumer efforts on Japan, China and India - and has launched Reuters.cn and bought a stake in mainland financial news portal Hexun as part of this strategy.
“It’s obvious we need a stronger foothold in the strongest advertising markets in Asia,” said Schmaltz. “The investment in Hexun shows the strong commitment of the company to really build the business there, but it won’t happen overnight. We want to attract a strong business audience and monetise this audience through advertising.”
Schmaltz’s promotion comes after Thomson acquired Reuters in 2007, reorganising the merged company around three business lines: professional publishing, consumer, and news agency.
“If you look at growth there is certainly more potential for consumer in Asia,” confirmed Schmaltz. “If you look at the news agency - it is much bigger in Asia at this point.”
Schmaltz to lead consumer offer at Reuters
ASIA-PACIFIC - Reuters will continue to focus on growing consumer revenues in Asia following the departure of regional EVP of consumer media, Azhar Rafee.