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The Power of NewsThe History of Reuters$
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Donald Read

Print publication date: 1999

Print ISBN-13: 9780198207689

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198207689.001.0001

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Going Public, 1981–1984

Going Public, 1981–1984

Chapter:
(p.404) Fourteen Going Public, 1981–1984
Source:
The Power of News
Author(s):

Donald Read

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198207689.003.0015

Gerald Long was succeeded as managing director by Glen Renfrew. Renfrew's knowledge of communications technology was, claimed Long, unequalled outside the ranks of the specialists. This made Renfrew especially well qualified for the top job. During Long's last years as managing director, Renfrew had advocated a determined push into large profitability as he believed strongly in decentralization. He was determined to appoint capable young overseas managers and to give them opportunities. He made this policy public in a press interview. Reuters was operating one of the largest private communications in public in the world. The latest innovation made had been direct satellite delivery. The flotation of Reuters as a public company in 1984 was described by Time magazine as a saga that had everything: high-risk corporate strategies and fierce boardroom battles, missing heirs and angry workers, high technology and hard news.

Keywords:   Gerald Long, decentralization, public, satellite delivery, Glen Renfrew

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