Mark Carney, GFANZ's Co-Chair, Embarks on a New Venture with Financial and Media Behemoth, Bloomberg

Image credit: World Economic Forum

Mark Carney, a prominent figure in the financial world known for his role as Bank of England governor from 2013 to 2020, has been unveiled as the next chair of Bloomberg.

Michael Bloomberg, the company's founder and Carney's co-chair in the global eco-venture Glasgow Financial Alliance for Net Zero (GFANZ), has entrusted this influential position to Carney, an advocate for green investment.

Bloomberg, the media and financial powerhouse based in the US, has been gearing up for a leadership transition. Yesterday, the founder's highly anticipated succession blueprint was revealed, shedding light on the future of his vast, multi-billion-dollar business realm.

It was disclosed that chief product officer Vlad Kliatchko would be CEO. Carney distinguished as an influential figure in the green investment community, will assume the chair's role, succeeding Peter Grauer, a veteran in the position since 2001.

This change doesn't mean retirement for Michael Bloomberg himself, who's guided the company as CEO since 2014. The tycoon, who's marked his career with three mayoral terms in New York City and even a presidential run, reassured that he is not "going anywhere." In a statement reflecting his down-to-earth persona, he declared,

"I have never used a title in the company, so I will not change what I will be called — just Mike."

Carney's background is rich and multifaceted, contributing to the complexity of his new role. Following his stint as the governor of the Bank of England, he took up responsibilities as chair and head of transition investing at Brookfield Asset Management.

His commitment to environmental causes is well-documented, with milestones including the launch of GFANZ at the COP26 summit and leading the Taskforce on Scaling the Voluntary Carbon Market in 2020. He is also a UN Special Envoy on Climate Action and Finance.

Additionally, Carney's reach extends to philanthropy and technology, as he sits on the Bloomberg Philanthropies and Stripe payments platform board. His expertise in financial matters also led him to act as a finance adviser to the UK Prime Minister.

In Bloomberg's transitional phase, additional changes to the board are imminent. New members are anticipated to join "in short order," replacing existing members shifting to "emeritus status," the company noted.

With this reshuffling, Bloomberg aligns its leadership for a new era, embedding tradition and fresh perspectives. Mark Carney's appointment signals a continued commitment to environmental stewardship, financial innovation, and global engagement, reflecting modern business's intricate and multifaceted nature."